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Logan Bruno Company has just received the August 31, 2025, bank statement, which is summarized below. Prepare any entries to make the book correct and
Logan Bruno Company has just received the August 31, 2025, bank statement, which is summarized below. Prepare any entries to make the book correct and complete.
Logan Bruno Company has just received the August 31, 2025, bank statement, which is summarized below. The general ledger Cash account contained the following entries for the month of August. Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.5 which was written for $164.5 for supplies (expense); it cleared the bank during the month of August. Date Account Titles and Explanation Aug. 31, 2025 (To record collection of note and interest) Aug. 31, 2025 (To record August bank charges) Aug. 31, 2025 Debit Credit Credit (To record error in recording check for supplies)Step by Step Solution
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