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An adjusting entry to adjust a company's reported cash balance is needed if: 1) a notice of a bank service charge is received along with
An adjusting entry to adjust a company's reported cash balance is needed if: 1) a notice of a bank service charge is received along with the bank statement. 2) its bank has incorrectly recorded a cheque in the company's bank account. 3) a deposit was in transit at the end of the period. 4) a cheque made to a supplier has not yet been cleared by its bank
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