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Provide expalanation and solution. Thank you Problem 3-4 (ACP) Problem Flamboyant Company prepared the following bank reconciliation on October 31: Cash in ban Cash account

Provide expalanation and solution. Thank you

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Problem 3-4 (ACP) Problem Flamboyant Company prepared the following bank reconciliation on October 31: Cash in ban Cash account balance 960,006 Book debate Less: Bank service charge 5,000 Deposit outstanding 45,000 Bankt state Check erroneously charged by Bank debit bank against entity's account 10,000 Bank credit Balance 930,000 Add: Checks outstanding 125,000 Note collect Unrecorded collections 45,000 170,000 March April Bank statement balance 1,100,000 October 31 balance per book Service cha 990,000 Book credits March 1,200,000 Book debits April 710,000 October 31 balance per bank statement NSF check 1,100,000 Bank credits March 500,000 Bank debits 1,000,000 April Debit memo for service charge in November 10,000 Deposit in t Debit memo for a customer's NSF check in November 50,000 March 3 April 30 During the month of November, the bank corrected the P10,000 error committed in prior month. Outstanding March 3 The entity recorded as cash receipt a customer note April 30 receivable of P100,000 placed with the bank for collection on November 30. The note was not collected until the Required subsequent month. Prepare a Required: "book to b a. Prepare bank reconciliation statement on November 30 showing adjusted balances. b. Prepare one adjusting entry only on November 30.Problem 3-3 (IAA) Fabulous Company provided the following data concerning cash on July 31: Checks drawn Bank statement No. 101 600,000 Balance, July 31 2,700,000 No. 102 700,000 Charges: No. 103 300,000 Checks paid 4,000,000 No. 104 400,000 Service charge 20,000 No. 105 450,000 Credits: No. 106 600,000 Deposits 3,500,000 No. 107 650,000 Note collected 1,500,000 No. 108 500,000 Balance of cash per book on July 1, P1,270,000. Cash receipts per cash book for the month of July P3,400,000. Checks paid by bank include all checks issued during the month of July except No. 107 and No. 108. On July 31 cash received but not deposited in bank, P400,000. Required: a. Prepare bank reconciliation on July 1 and July 31 b. Prepare adjusting entries on July 31

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