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The following information was available to reconcile Fargo Co.'s book cash balance with its bank statement balance as of December 31, 2023: a. The December

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The following information was available to reconcile Fargo Co.'s book cash balance with its bank statement balance as of December 31, 2023: a. The December 31 Cash balance according to the accounting records was $15,871,85, and the bank statement balance for that date was $22,545.90. b. Cheque #1273 for $542.10 and cheque #1282 for $195.00, both written and entered in the accounting records in December, were not among the cancelled cheques returned. Two cheques #1231 for $1,144.50 and #1242 for $185.25, were outstanding on November 30 when the bank and the book balances were last reconciled. Cheque \#1231 was returned with the December cancelled cheques, but cheque \#1242 was not. c. When the December cheques were compared with the entries in the accounting records, it was found that cheque #1267 had been correctly written for $1,217.50 to pay for office supplies, but was erroneously entered in the accounting records as though it were written for $2,117.50. d. Two debit memoranda were included with the returned cheques and were unrecorded at the time of the reconciliation. One of the debit memoranda was for $396.75 and dealt with an NSF cheque for $366.00 that had been received from a customer, Tork Industries, in payment of its account receivable. It also assessed a $30.75 fee for processing. The second debit memorandum covered cheque printing and was for $50. These transactions had not been recorded by Fargo before receiving the statement. e. A credit memorandum indicated that the bank had collected a $10,000 note receivable for the company, deducted a $20 collection fee, and credited the balance to the company's account. This transaction was not recorded by Fargo before receiving the statement. f. The December 31 cash receipts, $4,681.55 had been placed in the bank's night depository after banking hours on that date and did not appear on the bank statement. equired: 1. Prepare the bank reconciliation for the company for December 31, 2023. 2. Prepare the general journal entries necessary as a result of the bank reconciliation

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