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Using the following information: The bank statement balance is $4,045. The cash account balance is $4,474. Outstanding checks amounted to $769. Deposits in transit are

Using the following information:

  1. The bank statement balance is $4,045.
  2. The cash account balance is $4,474.
  3. Outstanding checks amounted to $769.
  4. Deposits in transit are $1,121.
  5. The bank service charge is $68.
  6. A check for $34 for supplies was recorded as $25 in the ledger.

Prepare a bank reconciliation for Candace Co. for May 31.

Candace Co. Bank Reconciliation May 31
Cash balance according to bank statement $
Adjustments:
$
Total adjustments
Adjusted balance $
Cash balance according to company's records $
Adjustments:
$
Total adjustments
Adjusted balance

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