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Using the following information, prepare a bank reconciliation and then prepare the journal entry to reconcile the bank statement Bank balance: $12,565. Book balance: $13,744.
Using the following information, prepare a bank reconciliation and then prepare the journal entry to reconcile the bank statement
Bank balance: $12,565. Book balance: $13,744. Deposits in transit: $2,509. Outstanding checks: $1,777. Bank charges: $125. Bank incorrectly charged the account for $412. The bank will correct the error next month. Check number 1879 correctly cleared the bank in the amount of $562 but posted in the accounting records as $652. This check was expensed to Utilities Expense.
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