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Your assistant prepared the following bank reconciliation statement. It appears that the statement is unacceptable and the task of preparing a proper reconciliation falls upon
Your assistant prepared the following bank reconciliation statement. It appears that the statement is unacceptable and the task of preparing a proper reconciliation falls upon you. Brandon Company Bank Reconciliation May 31, 2017 Balance per books May 31 Add: Electronic Fund Transfer $9,595 $1.117 Deposit in transit 2,512 3,629 $13,224 Deduct Bank charges NSF cheque, Rhonda Teal $29 538 1,857 Error in cheque #78: correctly issued and processed by the bank for $800, but incorrectly recorded in the books as $745 (Accounts Payable-Delta Co.) 2,479 55 Indicated bank balance $10,745 9,435 Balance per bank statement $1,310 Discrepancy Required: 1. Prepare a proper bank reconciliation showing the true Cash balance. BRANDON COMPANY Bank Reconciliation May 31, 2017 Company's Books Bank Statement Balance per bank Balance per books Add Add: Deduct Deduct: 2. Prepare the necessary journal entries. (If no entry is required for a transaction/eve nt, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet . . Date General Journal Credit No Debit
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