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Valentine Investigations has the following information for its cash account: Valentine's bank statement for February contained the following information: A comparison of company records with the bank statement provided the following data: Required: 1. Propare a bank roconciliation as of Fobruary 28. 2. Prepare adjusting entries for Valentine based on the information developed in the bank reconcllation. 3. What is the amount of cash that should be reported on the February 28 balance sheot? Amount Descriptions Add: Deposits in transit Add: Outstanding checks Add: Debit memo (electric bill) Add: Service charge Less: Deposits in transit Less: Outstanding checks Less: Debit memo (electric bill) Less: Service charge Valentine Investigations Score: 38/60 Bank Reconciliation Schedule February 28, 20XX 1 Cash balance from bank statement 2 Add: Deposits in transit 3 Less: Outstanding checks 1. Adjusted cash balance s. Cash balance from company records 6. Less: Service charge 7 Less: Debit memo (electric bill) 8 Adjusted cash balance