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Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2009: The bank statement balance is $4,010 The cash account balance
Using the following information, prepare a bank reconciliation for Young Co. for August 31, 2009:
The bank statement balance is $4,010
The cash account balance is $4,207.
Outstanding checks amounted to $517.
Deposits in transit are $633.
The bank service charge is $45.
A check for $84 for supplies was recorded as $48 in the ledger.
Young Co. Bank Reconciliation August 31, 2009 | ||||
Cash balance according to bank statement | $ | |||
Add deposits in transit not recorded by bank | ||||
$ | ||||
Deduct outstanding checks | ||||
Adjusted balance | $ | |||
Cash balance according to company's records | $ | |||
Deduct: Bank service charge | $ | |||
Error in recording | ||||
Adjusted balance | $ |
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