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Bank Reconciliation The following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 34,690 Balance per company
Bank Reconciliation
The following data were gathered to use in reconciling the bank account of Lays Company:
Balance per bank | $ 34,690 |
Balance per company records | 28,930 |
Bank service charges | 160 |
Deposit in transit | 5,110 |
NSF check | 1,880 |
Outstanding checks | 12,910 |
a. What is the adjusted balance on the bank reconciliation? $
b. Journalize any necessary entries for Lays Company based on the bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank.
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