Q) 7

Edit Reading Help Ubrary placed. You investigate further and find that the journal entry recording cheque #543 debited Office Supplies Expense. What should you do? Explain. Problem 7-68 Preparing a bank reconciliation and recording adjustments L06 CHECK FIGURE: a. Adjusted book balance = $13,929 The bank reconciliation prepared by Village-on-the-Lake Condos on May 31, 2020, is shown below: Village-on-the-Lake Condos Bank Reconciliation May 31, 2020 Bank statement balance.......... $ 2,060 Book balance $3.910 Add Deposit of May 31 in transit 12.500 $14,560 Deduct: Outstanding cheques: #103 $6,520 #120 4,130 10.650 $ 3,910 Adjusted bank balance... $3,910 Adjusted book balance 527