Essay
The bank statement for Exible Co.indicates a balance of $10,252.50 on June 30, 2016.The cash account for the company had a balance of $4,787.10.Prepare a bank reconciliation on the basis of the following reconciling items:
(a)Cash sales of $351 had been erroneously recorded as $315.
(b)Deposits in transit not recorded by bank, $500.
(c)Bank debit memorandum for service charges, $45.
(d)Bank credit memorandum for note collected by bank, $2,782, including $63 interest.
(e)Bank debit memorandum for $223.40 NSF (not sufficient funds) check from Alice Martin, a customer.
(f)Checks outstanding, $3,415.80.
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