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Bank Reconciliation Firebird Corp. prepares monthly bank recoricikations of its checking account balance. The bank statement for February indicated the foliowing: Upon receiving the bank
Bank Reconciliation Firebird Corp. prepares monthly bank recoricikations of its checking account balance. The bank statement for February indicated the foliowing: Upon receiving the bank statement, Firebird's accountants analyzed its cash transactions for possible recancling items between its cash balance per books and the bank. statement: The correct amount of check 7653 is $697. It was recorded as a cash disbursement of $679 by mistake. The check was issued to pay for merchandise purchases. The check appeared on the bank statement correctly. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. 1. Prepare a bank reconciliation schedule in proper form at February 28. Firebird Corp. Bank Reconciliation February 28 Cash balance from bank statement Add: Less: Adjusted cash balance Cash balance from company records Add: Less: Adjusted cash balance 2. What is the amount of cash that should be reported on the February 28 balance sheet? Amount of cash reported on the February 28 balance sheet
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