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Required information Skip to question [ The following information applies to the questions displayed below. ] Hills Company s June 3 0 bank statement and

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[The following information applies to the questions displayed below.]
Hills Companys June 30 bank statement and the June ledger account for cash are summarized here:
BANK STATEMENT
Checks Deposits Other Balance
Balance, June 1 $ 7,240
Deposits during June $ 18,20025,440
Checks cleared during June $ 19,3006,140
Bank service charges $ 316,109
Balance, June 306,109
Cash (A)
Debit Credit
June 1 Balance 7,240
June Deposits 19,40019,600 Checks written June
June 30 Balance 7,040
Required:
1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June.

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