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Sheffield Company assembled the following information in completing its March bank reconciliation: balance per bank $7790; outstanding checks $1620; deposits in transit $2540; NSF check
Sheffield Company assembled the following information in completing its March bank reconciliation: balance per bank $7790; outstanding checks $1620; deposits in transit $2540; NSF check $220; bank service charge $70; cash balance per books $9000. As a result of this reconciliation, Sheffield will reduce its cash account by $70. reduce its cash account by $920. reduce its cash account by $290. increase its cash account by $150
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