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journal..v he cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $32,788. During October, the total cash deposited was $139,699,
journal..v
he cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $32,788. During October, the total cash deposited was $139,699, and checks written totaled $138,679. The bank statement indicated a balance of $42,830 on October 31, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
A. | Checks outstanding totaled $6,659. |
B. | A deposit of $1,875 representing receipts of October 31, had been made too late to appear on the bank statement. |
C. | The bank had collected for Coastal Bike Co. $6,195 on a note left for collection. The face of the note was $5,900. |
D. | A check for $170 returned with the statement had been incorrectly charged by the bank as $710. |
E. | A check for $310 returned with the statement had been recorded by Coastal Bike Co. as $130. The check was for the payment of an obligation to Rack Pro Co. on account. |
F. | Bank service charges for October amounted to $24. |
G. | A check for $1,213 from Bay View Condos was returned by the bank due to insufficient funds. |
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