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The August 31 bank statement of Wallace Healthcare has just arrived from Herkimer Bank. To prepare the bank reconciliation, you gather the following data: (Click

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed The August 31 bank statement of Wallace Healthcare has just arrived from Herkimer Bank. To prepare the bank reconciliation, you gather the following data: (Click the icon to view the data.) Read the requirements. a. The August 31 bank balance is $5,510. b. The bank statement includes two charges for NSF checks from customers. One is for $410(#1), and the other is for $160(#2). c. The following Wallace Healthcare checks are outstanding at August 31: d. Wallace collects from a few customers by EFT. The August bank statement lists a $1,800 EFT deposit for a collection on account. e. The bank statement includes two special deposits that Wallace hasn't recorded yet: $950 for dividend revenue, and $70 for the interest revenue Wallace earned on its bank balance during August. f. The bank statement lists a $120 subtraction for the bank service charge. g. On August 31, the Wallace treasurer deposited $290, but this deposit does not appear on the bank statement. h. The bank statement includes a $900 deduction for a check drawn by Multi-State Freight Company. Wallace notified the bank of this bank error. h. The bank statement includes a $900 deduction for a check drawn by Multi-State Freight Company. Wallace notified the bank of this bank error. i. Wallace's Cash account shows a balance of $3,000 on August 31 . Requirements 1. Prepare the bank reconciliation for Wallace Healthcare at August 31, 2024. 2. Journalize any required entries from the bank reconciliation. Include an explanation for each entry

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