Groove Company's August 31, 2020, bank statement balance is $9,135 and shows a service charge of $22, interestearned of $18, and an NSF cheque for $720. Deposits in transit total $2,600, and outstanding cheques are $1,250. The bookkeeper incorrectly recorded as $132 a cheque of $123 in payment of an account payable. The company's book balance at August 31, 2020, was $11,200.

a. Prepare the bank reconciliation for Groove Company at August 31, 2020. Calculate the adjusted bank balance first, and then calculate the adjusted book balance below it. Show that both adjusted balances agree.

b. Prepare the journal entries needed to update the company's books.

affunied balarices agre b. Prepare the joimal nrticies needed to ipdete the company's bocks. 2. Prepare the bark reconeliation for Groove Company at Augut 31, 2000: Culcilate the acfusled berk balance frit, and Gen calcilate the alfutied bock balance belre it. Bhow e at bot affucted balances agee. Lefs begin with the bark reconcllation. Start winh oonginting the herk side of the moonchiming. Now correlele the book tide of the roconciliatisn. b. Prepare the journal entries needed to update the company's books. 31, 2020. Caloulate the adjusted bank balance firat, and then colculate the adfusted book balance below it. Sx bank side of the reconcillation. a. Prepare the bank reooncilaten fer Groove Compary at Auguat 31, 2020 . Colalale phe adjusted bank bsiance frat, and then calculate the adjustad book balenan below it show that beth adusied balances ngren. b. Prepare tho poumal ertios needed to update the company's books. balances agree. Lefk beain with the haok theinniliatins start with coenpleting the bank side of the reconcliation. Now nomplete the book wide of the recoen?lation a. Prepare the bank recencilasion for Croove Company at August 31, 2020, Calculate the adjusted bank balance frit, and then calculate the adjunted book balance below it Show that boet adjusted balances agree. b. Prepare the journal entries needed to upente the company's books. Now complete the book side of the reconeation. adjusted balances ngree. b. Prepare the journal entries needod to updote the company's books. Now complete the book side of the reconciliation. Now complete the book side of the roconciliation. 1 bank briance and the adjusted book balance to show if the adjusted balances agree St Adjusted bank balance = Adjusted book balance b. Prepare the journal entries noeded to update the company's books. he ocjusted bark balance first, and then calculate the adfusied book baiance belo Show that both adjusted balances agree. Enter the total adiusted bank balance and the adjusted book balance to show if the adjusted balances agree. b. Prepare the journal entries needed to update the company's books. (Record dabits first, then credits. Solect the explanation on the last fine of the journal ontry te Record the correction of the book error, Record the $18 of interest revenue that Groowe Company earned on its bank balance. Recocd the 522 service charde. crieque of 5720 which was returned by tha hank