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please help check weather the answers are correct or not 44 1 point In ALL cases, the ending bank and book balances must match. True
please help check weather the answers are correct or not
44 1 point In ALL cases, the ending bank and book balances must match. True False Bank Reconciliation \& Journal Entries Prepare a bank reconciliation for Cole Co. assuming the following as of May 31 : 3 points The following accounts will be DEBITed to record the journal entries needed as a result of completing the bank reconciliation (more than one answer may apply): Interest Income Salaries \& Wages Expense Accounts Receivable Deposits in Transit Utilities Expense Rent Expense Bank Charge Cash Outstanding Checks 463 points The following accounts will be CREDITed to record the journal entries needed as a result of completing the bank reconciliation (more than one answer may a Bank Charge Outstanding Checks Cash Interest Income Deposits in Transit Utilities Expense Accounts Receivable Bank Reconciliation \& Journal Entries Prepare a bank reconciliation for Cole Co. assuming the following as of May 31 : 1) Interest earned, but not recorded: 2) April 30 outstanding checks: 3) Check 1115 was written and drawn for $1,500 but was erroneously entered in the accounting records as $500. The check was for the rent. 4) The bank statement shows a balance of: 5) May 31st daily cash sales were deposited but did not appear on the May 31 bank statement. 6) The company's cash account as a debit balance of: 7) A credit memorandum was received by the bank, but not recorded by Cole Co. by May 31 a) Cash collected by the bank: b) Collection fee deducted by bank: 472 points Upon completion of the bank reconciliation journal entries, cash changes by (note: combine debits and credits to cash to determine net change to cash): 2365 Previous 1 point Is the net change in cash from the Bank Reconciliation journal entries, an INcrease or DEcrease in Cash? Decrease IncreaseStep by Step Solution
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