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a. Following represent some of the information obtained as a result of comparison of ABC Company's records and the bank statement at the end of
a. Following represent some of the information obtained as a result of comparison of ABC Company's records and the bank statement at the end of May The following checks have been issued by ABC Company during the month of May, but the bank does not list them among the paid checks in the bank statement: No.312 $200 No.345 $231 b. The cash ledger account of ABC shows the cash balance as $12.765 as of May 31. C. ABC Company issues a check (No.347) to pay for utilities expense, $325. The check is accurately cleared by the bank but erroneously recorded in ABC's records as $523. d. The May bank statement shows a NSF check. $120 After bank reconciliation is prepared, the adjusting entry for the NSF check includes: Select one: a Debit to Cash for $ 120, credit to Accounts Receivable for $120 b Debit to Accounts Receivable for $120, credit to Cash for S120 Debit to Cash for $198 credit to Utilities Expense for $198 d. Debit to utilities expense for $198. credit to Cash for S198
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