Question
Using the following information, along with the bank reconciliation procedures, determine the adjusted company balance for Bakers Co. for October 31, 2019. The bank statement
Using the following information, along with the bank reconciliation procedures, determine the adjusted company balance for Bakers Co. for October 31, 2019.
The bank statement balance is $69,875. The cash account balance is $59,785.
(a) Outstanding checks amounted to $2,755.
(b) Deposits in transit are $3,200.
(c) The bank service charge is $30.
(d) A check for $385 for supplies was recorded as $365 in the ledger.
(e) A check for $725 had been incorrectly charged by the bank as $275.
(f) The bank had collected for Bakers Co. $10,135 on a note left for collection. The face of the note was $10,000.
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