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Question 1 Tamarisk, Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information Bank debit memorandum: $18,700 Balance, August 1
Question 1 Tamarisk, Inc.'s bank statement from Main Street Bank at August 31, 2017, gives the following information Bank debit memorandum: $18,700 Balance, August 1 71,300 $75 August deposits Safety deposit box fee 68,628 100 Checks cleared in August Service charge 21,292 Balance, August 31 Bank credit memorandum: 95 Interest earned A summary of the Cash account in the ledger for August shows the following: balance, August 1, $19,000; receipts $74,300; disbursements $73,520; and balance, August 31, $19,780. Analysis reveals that the only reconciling items on the July 31 bank reconciliation were a deposit in transit for $4,850 and outstanding checks of $4,550. In addition, you determine that there was an error involving a company check drawn in August: A check for $400 to a creditor on account that cleared the bank in August was journalized and posted for $40. (a) Determine deposits in transit. Deposits in transit LINK TO TEXT VIDEO: APPLIED SKILLS (c) Prepare a bank reconciliation August 31. (List items that increase balance as per bank & books first.) TAMARISK, INC. Bank Reconciliation Deposits in transit Add Less Deposits transit Outstanding checks Add Outstanding checks LINK TO TEXT VIDEO: APPLIED SKILLS Attempts: 0 of used SUBMIT ANSWER SAVE FOR LATER
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