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Bank Reconciliation Firebird Corp, prepares monthly bank reconciliations of its checking account balance. The bank statement for February 2019 indicated the following: I Balance, February
Bank Reconciliation Firebird Corp, prepares monthly bank reconciliations of its checking account balance. The bank statement for February 2019 indicated the following: I Balance, February 28, 2019 $87,392 Service charge for February 100 Interest earned during February 875 NSF check from Valerie Corp. (deposited by Firebird) 630 Note ($12,000) and interest ($350) collected from a customer of Firebird's 12,350 An analysis of canceled checks and deposits and the records of Firebird Corp. revealed the following items: Checking account balance per Firebird's books $73,260 Outstanding checks as of February 28 6,440 Deposit in transit at February 28 4,785 Error in recording check 7853 issued by Firebird The correct amount of check 87853 is $797. It was recorded as a cash disbursement of $779 by mistake. The check was issued to pay for merchandise purchases. The check appeared on the bank statement correctly. 18 Required: 1. Prepare a bank reconciliation schedule February 28, 2019, in proper form
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