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Chapter 6 Homework 4 Saved 15 points eBook Wright Company's cash account shows a $29,700 debit balance and its bank statement shows $28,000 on deposit
Chapter 6 Homework 4 Saved 15 points eBook Wright Company's cash account shows a $29,700 debit balance and its bank statement shows $28,000 on deposit at the close of business on May 31. a. The May 31 bank statement lists $210 in bank service charges; the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,700 c. May 31 cash receipts of $7,300 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $510 check written by Smith Company was mistakenly drawn against Wright's account. e. The bank statement shows a $380 NSF check from a customer, the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information. Hint References Bank statement balance Add: Deduct WRIGHT COMPANY Bank Reconciliation May 31 Book balance Add Deduct Adjusted bank balance Adjusted book balance
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