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The following information is available for Acct 201 Co. for June 30, 2019: The bank statement balance is $7,000 The general ledger cash account balance
The following information is available for Acct 201 Co. for June 30, 2019: The bank statement balance is $7,000 The general ledger cash account balance is $5,322 Outstanding checks totaled $1,500 Deposits in transit are $400 The bank service charge is $22 Collection of a note by bank, $650 plus $50 in interest income. Error by bank in processing a check - overcharge to Acct 201's account of $100, to be corrected July 2, 2019 Required: 1. Based on the previous information, prepare a bank reconciliation for Acct 201 Co. at June 30, 2019. 2. Based on the previous reconciliation, prepare any necessary adjusting journal entries. 3. List one example of internal controls over cash
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