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Attached. General Bank Ledger Statement Beginning balance $4,611 $5,753 Deposits 25,056 Cash receipt journal 25,456 Cheques cleared (23,615) Cash disbursements journal (21,811) July bank service

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General Bank Ledger Statement Beginning balance $4,611 $5,753 Deposits 25,056 Cash receipt journal 25,456 Cheques cleared (23,615) Cash disbursements journal (21,811) July bank service charge (87) Note paid directly (6100) NSF cheque (311) Ending balance 8,256 696 June 30 Bank Reconciliation Information in General Ledger and bank Statement Balance per bank $5,753 Deposits in transit $ 600 Outstanding cheques $1,742 Balance per books $4,611JLI1e an Bank Reconciliation Information in General Ledger and bank Statement Balance per bank $5,753 Deposits in transit S 500 Outstanding cheques $1 ,742 Balance per books $4,611 In addition, the following information is obtained: 1. Cheques clearing that were outstanding on June 30 totaled $1 ,692. 2. Cheques clearing that were recorded in the July disbursements journal totaled $20,467. 3. A cheque for $1 ,060 cleared the bank but had not been recorded in the cash disbwsements journal. It was for an acquisition of inventory. ABC Corp. use: the periodic inventory method. 4. A cheque For $396 was charged to ABC Corp. but had Mn written on a different associated company's bank account. 5. Deposits included $600 from June and $24, 456 for July. 6. The bank charged ABC account for a nonsufcient funds (NSF) cheque totaling $311. The credit manager concluded that the customer intentionally closed its account and the owner left the city. The cheque was turned over tic a collection agency. 7. The bank deducted $5.800 plus interest from ABC account for a loan made by the bank under an agreement signed four months ago. The note payable was recorded at $5,300 on ABC books. REQUIRED: 1. Prepare four-column-proof of cash for ABC corporation. 2. Explain why the auditors would prefer four-column-proof of cash to bank reconciliation statement

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