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The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,027. The
The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,027. The unadjusted Cash account balance was $17,660. The following information is available:
- Deposit in transit: $2,605.
- Credit memo in bank statement for interest earned in June: $14.
- Outstanding check: $3,972.
- Debit memo for service charge: $14.
Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. (Amounts to be deducted should be indicated with minus sign.)
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