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Bentley Companys June 30 bank statement and June ledger account for cash are summarized below: BANK STATEMENT Checks Deposits Balance Balance, June 1 $ 7,100
Bentley Companys June 30 bank statement and June ledger account for cash are summarized below:
BANK STATEMENT | |||
---|---|---|---|
Checks | Deposits | Balance | |
Balance, June 1 | $ 7,100 | ||
Deposits during June | $ 15,350 | 22,450 | |
Checks cleared during June | $ 16,350 | 6,100 | |
Bank service charges | 31 | 6,069 | |
Balance, June 30 | 6,069 |
Cash (A) | ||||
---|---|---|---|---|
Debit | Credit | |||
June 1 Balance | 7,100 | June Checks written | 19,250 | |
June Deposits | 18,800 |
Required:
- Complete the following bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,900. A deposit of $3,450 is in transit at the end of June.
- Prepare the journal entry that should be made as a result of the bank reconciliation.
- What is the balance in the Cash account after the reconciliation entries?
- What is the total amount of cash that should be reported on the balance sheet at June 30?
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