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Peterson Company's general tedger shows a cash balance of $7,540 on May 31. May cash receipts of $1,210, Included in the general ledger balance, are

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Peterson Company's general tedger shows a cash balance of $7,540 on May 31. May cash receipts of $1,210, Included in the general ledger balance, are placed in the night depository at the bank on May 31 and processed by the bank on June 1. The bank statement dated May 31 shows on NSF check for $120 and a service fee of $50. The bank processes all checks written by the company by May 31 and lists them on the bank statement, except for one check totaling $1,760. The bank statement shows a balance of 57920 on May 31 Prepare a bank reconciliation to calculate the correct ending balance of cash on May 31. (Amounts to be deducted should be Indicated with a minus sign.) PETERSON COMPANY Bank Reconciliation Mayat Bank's Cash Balance Company Contatos Before reconciliation Before condition After reconciliation After recondition

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