Question
Reginald's Recycling is a company which helps recycle old electronics. The following information is available regarding their checking account at Lock Bank: Interest Reported $50
Reginald's Recycling is a company which helps recycle old electronics. The following information is available regarding their checking account at Lock Bank:
| Interest Reported | $50 | |
| NSF Check | $125 | |
| Checks Outstanding | $650 | |
| Service Fee Reported | $25 | |
| Deposits Outstanding | $975 |
Determine whether the information is something that is known to Reginald or the bank. If it's known to Reginald, put "Reginald". If it's known to the bank, put "Bank".
Assume the bank currently has a balance for Reginald of $1,065, while Reginald has an internal balance for themselves of $1,490. What is the correct reconciled balance for Reginald?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
