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PLEASE HELP The bank statement for Jeffrey Co. Indicates a balance of $8,795 on October 31 . The cash balance occording to the company's records
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The bank statement for Jeffrey Co. Indicates a balance of $8,795 on October 31 . The cash balance occording to the company's records is 50,990 . The following adelibonal dats were gathered to use in reconciling the bank account: 1. Cash sales of $945 had been erroneously recorded in the cash receipts fournal as $495. 2. Deposits in tranit not recorded by bank, $778. 3. Bank debit memo for service charges, 540 . 4. Bank credit mem for note collected by bank, $23,985 plus s885 interest. 5. Bank debit memo for $756 WSF (not sufficient funds) check from Calin Sams, a customer. 6. Checks outstanding, $1,860. Record the appropriate jouri jl entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it Step by Step Solution
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