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Cullumber Sells is unable to reconcile the bank balance at January 31. Cullumber's reconciliation is shown here. Cash balance per bank $3,760.20 Add: NSF check
Cullumber Sells is unable to reconcile the bank balance at January 31. Cullumber's reconciliation is shown here.
Cash balance per bank $3,760.20
Add: NSF check 590.00
Less: Bank service charge 30.00
Adjusted balance per bank 4,320.20
Cash balance per books $4,075.20
Less: Deposits in transit 630.00
Add: Outstanding checks 935.00
Adjusted balance per books $4,380.20
Prepare the adjusting journal entries necessary to determine the adjusted cash balance per books. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.75.)Step by Step Solution
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