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Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Withdrawals Deposits $ 24,300 Balance, June 1 Deposits during
Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Withdrawals Deposits $ 24,300 Balance, June 1 Deposits during June Cheques cleared during June Bank service charges Balance, June 30 Balance $ 8,700 33,000 4,900 4,720 4,720 $28,100 180 + Cash (A) June 1 June Balance Deposits 8,300 26,500 28,100 Cheques written June June 30 Balance 6,700 Required: 1. Prepare a bank reconciliation. A comparison of the cheques written with the cheques that have cleared the bank shows outstanding cheques of $400. Some of the cheques that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. HILLS COMPANY Bank Reconciliation June 30 Company's books Ending balance per cash account Additions: Bank statement Ending balance per bank statement Additions: 0 0 Deductions: Deductions: Up-to-date cash balance $ o Up-to-date cash balance $ 0 2. Prepare the journal entry that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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