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Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryans June bank statement shows a
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryans June bank statement shows a $23,361 balance in the bank. Ryans comparison of the bank statement to its cash account revealed the following: Deposit in transit 2,450Outstanding checks 1,107Additionally, a $48 check written and recorded by the company was incorrectly recorded by the bank as a $84 deduction.The adjusted cash balance per the bank records should be:Multiple Choice$24,704$24,668$26,954$24,740$19,840
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Lets now focus on completing the bank reconciliation for Ryan Company based on the provided data and then proceed to filling out the inventory costing method tables provided in the images Bank Reconci...Get Instant Access to Expert-Tailored Solutions
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