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The Company's bank statement on February 28 showed a balance of $26,714. The book balance for that date was $28,828, There were $7,420 of checks

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The Company's bank statement on February 28 showed a balance of $26,714. The book balance for that date was $28,828, There were $7,420 of checks written that have not cleared the bank, and a deposit in transit of $8,956. The Bank statement revealed a $120 service charge, and an NSF returned check of $458. 1. What is the true cash balance on February 28? 2. Show the entry(s) the Company needs to record on its books

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