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Using the following information: The bank statement balance is $5,351. The cash account balance is $5,736. Outstanding checks amounted to $721. Deposits in transit are
Using the following information:
- The bank statement balance is $5,351.
- The cash account balance is $5,736.
- Outstanding checks amounted to $721.
- Deposits in transit are $1,017.
- The bank service charge is $80.
- A check for $79 for supplies was recorded as $70 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 | $fill in the blank 1 | |
Adjustments: | ||
Deposits in transit not recorded by bank | $fill in the blank 3 | |
Error in recording check | fill in the blank 5 | |
Total adjustments | fill in the blank 6 | |
Adjusted balance | $fill in the blank 7 | |
Cash balance according to company's records | $fill in the blank 8 | |
Adjustments: | ||
$fill in the blank 10 | ||
fill in the blank 12 | ||
Total adjustments | fill in the blank 13 | |
Adjusted balance | $fill in the blank 14 |
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