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LO 4.4) Prob.3. Assume Beerbo had the following information: Checks written but not yet cleared by Beerbo's bank: Deposits made but not yet processed by
LO 4.4) Prob.3. Assume Beerbo had the following information: Checks written but not yet cleared by Beerbo's bank: Deposits made but not yet processed by Beerbo's bank:.. .$1,800 $300 Local Bank auto-deposit of interest earned:. .$10 Local Bank's collection from customer on-account:. $600 NSF check from customer:.... $50 Service fee charged by Local Bank:. $30 Unadjusted ending balance per Beerbo's bank statement from Local Bank: . $5,570 .$3,540 Unadjusted ending balance per Cash ledger account... Assume Beerbo has the following accounts listed in its ledger: Cash Accounts Receivable Interest Revenue Miscellaneous Expense LO 4.4) Prob.3.a. Create the "BANK SIDE" of Beerbo's bank reconciliation Determine which items (if any) appear in Beerbo's ledger (ie. Cash account) that do not appear on the bank statement from Local Bank. Calculate the adjusted bank balance. Use proper bank reconciliation formatting. LO 4.4) Prob.3.b. Create the "BOOK SIDE" of Beerbo's bank reconciliation Determine which items (if any) appear on the bank statement from Local Bank that do not appear in Beerbo's ledger (i.e. Cash account). Calculate the adjusted bank balance. Use proper bank reconciliation formatting. LO 4.4) Prob.3.c. Record the necessary journal entries Determine the necessary journal entries Beerbo should record to ensure its ending Cash balance (per its ledger) equals the adjusted book balance (per the bank reconciliation). Use proper journal entry formatting
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