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Maganda company recorded a check received from customers amounting to 2120. The bank statement showed that the customer checks cleared at the amount of 2210.
Maganda company recorded a check received from customers amounting to 2120. The bank statement showed that the customer checks cleared at the amount of 2210.
The bank erroneously deducted 210 from the Maganda company account, a check issued by another company.
prepare for bank reconciliation for the month of December 31,2019
Now you have been practicing fixing, correcting, and preparing lets checked if those are enough. December 31, 2019, Maganda Company shows a cash balance in the general ledger of P 7,100. Maganda Company received the bank statement on December 31, 2019, with a balance of P7,820. The bank statement and general ledger account showed the following information: Deposit in Transit P 1.200 Collection of account receivable 755 Interest Income 70 Auto Debit of PLDT bill 320 NSF Check 455 580 Outstanding Check Bank Charges 30 13Step by Step Solution
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