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Bank Reconciliation Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement indicated the following: Balance, beginning of the month $15,640
Bank Reconciliation Tiny Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement indicated the following: Balance, beginning of the month $15,640 Service charge for October 65 80 Interest earned during October NSF check from Green Corp. (deposited by Tiny) for goods purchased on account 615 Note ($2,500) and interest ($75) collected for Tiny from a customer 2,575 An analysis of canceled checks and deposits and the records of Tiny revealed the following items: Checking account balance per Tiny's books $12,951 Outstanding checks as of October 31 1,410 Deposit in transit at October 31 750 Error in recording a check issued by Tiny. (Correct amount of the check is $606, but was recorded as a cash disbursement of $660. The check was issued to pay for merchandise originally purchased on account) 54 1. Prepare a bank reconciliation at October 31, 2019, in proper form. Tiny Corp Bank Reconciliation October 31, 2019 Cash balance from bank statement Add: Less: Adjusted cash balance Cash balance from company records Add: Less: Adjusted cash balance
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