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is it correct? Identify each of the following reconciling items ast a. An addition to the cash balance according to the bank statement b. Deduction
is it correct?
Identify each of the following reconciling items ast a. An addition to the cash balance according to the bank statement b. Deduction from the cash balance according to the bank statement An addition to the cash balance according to the company's records. d. A deduction from the cash balance according to the company's records Assume that none of the transactions reported by bank debit and credit memos have been recorded by the company. Also, please choose option with "entry" by those items that will require a journal entry in the company's accounts, 1. Deposits in transit An addition to the cash balance according to the bank statement. 2. Bank service charges A deduction from the cash balance according to the company's records. 3. NSF check A deduction from the cash balance according to the company's records, 4. Outstanding checks. Deduction from the cash balance according to the bank statement 5. Check for $690 incorrectly recorded by the company as $960 An addition to the cash balance according to the company's records 6. Check for $420 incorrectly recorded by the company as $240. A deduction from the cash balance according to the company's records Step by Step Solution
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