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Lukas Ltd is preparing bank reconciliation statement for January. The following items are identified. Cash balance as per bank statement $7 900; Cash balance as
Lukas Ltd is preparing bank reconciliation statement for January. The following items are identified.
Cash balance as per bank statement $7 900; Cash balance as per company records $8 750
Bank charges $50
Outstanding deposit $1 200
Outstanding EFTs $400
Required:
Prepare the bank reconciliation statement for January and the necessary adjusting entry. (3.5 marks)
Narrations in the general journals are not required.
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