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Klaxon, Inc. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on

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Klaxon, Inc. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on March 31, its Cash account shows a debit balance of $14,804. Klaxon's March bank statement shows $14,000 on deposit in the bank on March 31. Additional data follows: Deposit in transit Outstanding checks Bank service charge, not yet recorded by Klaxon Utility Expense check issued for $660, mistakenly recorded in the Cash account for $606. Correction amount: $2,500 $1,800 S50 a) Calculate the Adjusted Bank Balance (show calculation, please): b) Calculate the Adjusted Cash Account (book) Balance (show calculation, please): e) Prepare the journal entry (or entries) to update Klaxon's Cash account for Bank Service fees (550) and the S54 check error (use the accounts: Bank Expense, Utilities Expense, and Cash)

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