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The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $11,710. During November, the total cash deposited was $64,330

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The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $11,710. During November, the total cash deposited was $64,330 and checks written totaled $59,730. The bank statement indicated a balance of $21,810 on November 30, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $9,710. b. A deposit of $7,910, representing receipts of November 30, had been made too late to appear on the bank statement. c. A check for $630 had been incorrectly charged by the bank as $360. d. A check for $630 returned with the statement had been recorded by Collegiate Sports Co. as $360. The check was for the payment of an obligation to Ramirez Co. on account. e. The bank had collected for Collegiate Sports Co. $4,180 on a note left for collection. The face of the note was $3,860. f. Bank service charges for November amounted to $60. g. A check for $960 from Hallen Academy was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of November 30, 2019. Collegiate Sports Co. Bank Reconciliation November 30, 2019 Line Item Description Cash balance according to bank statement Amount Amount Total deductions Adjusted balance Cash balance according to company's records Total additions 00 00 Total additions Total deductions Adjusted balance 1001 0.00 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank. Date a. 2019 Nov. 30 Account Debit Credit b. Nov. 30 3. If a balance sheet were prepared for Collegiate Sports Co. on November 30, 20Y9, what amount should be reported as cash?

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