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Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance
Entries for Bank Reconciliation
The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6:
- Cash balance according to the company's records at August 31, $18,890.
- Cash balance according to the bank statement at August 31, $20,030.
- Checks outstanding, $3,830.
- Deposit in transit, not recorded by bank, $3,080.
- A check for $270 in payment of an account was erroneously recorded in the check register as $720.
- Bank debit memo for service charges, $60.
Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash.
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