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Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date
Required information [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Date December 1 December 6 Checks Deposits Other Balance $ 42,000 $ 7,570 34,430 December 11 December 17 500 11,400 $ 27,000 60,930 49,530 December 23 35,000 84,530 December 26 500 December 30 84,030 15,700 18,000 NSF $ 250 86,080 December 31 December 31 Interest earned Service charge 45 86,125 100 86,025 NSF check from J. Left, a customer. Cash (A) December 1 Debit Balance Credit 42,000 Checks written during Deposits: December: December 11 27,000 7,570 December 23 35,000 500 December 30 18,000 11,400 December 31 12,000 500 100 15,700 4,950 December 31 Balance 93,200 December 31 Balance 93,280 There were no deposits in transit or outstanding checks at November 30. 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $250 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents
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