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The Bank Statement for Marley Co $342 \$ 342 Had Been Erroneously Recorded in the Cash Receipts Joumal As of $10,000.50

Question 43

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The bank statement for Marley Co. indicates a cash balance of $10,000.50 on June 30, 2013. The cash account in Marley's records had a balance of $4,677.10. Illustrate the adjustments to the accounts and their effect on Marley's financial statements, based on the following reconciling items:
(a)Cash sales of $342 \$ 342 had been erroneously recorded in the cash receipts joumal as $324 \$ 324 .
(b)Deposits in transit not reconded by bank, $700 \$ 700 .
(c)Bank debit memorandun for service charges, $30 \$ 30 .
(d)Bank credit memorandum for note collected by bank, $2,050 \$ 2,050 , including $50 \$ 50 interest.
(e)Bank debit memoranchum for $207.40 \$ 207.40 NSF (not sufficient funds) check from Alice Martin, a customer.
(f)Checks outst anding $4,192.80 \$ 4,192.80 .
 The bank statement for Marley Co. indicates a cash balance of $10,000.50 on June 30, 2013. The cash account in Marley's records had a balance of $4,677.10. Illustrate the adjustments to the accounts and their effect on Marley's financial statements, based on the following reconciling items:  (a)Cash sales of   \$ 342   had been erroneously recorded in the cash receipts joumal as   \$ 324  . (b)Deposits in transit not reconded by bank,   \$ 700  . (c)Bank debit memorandun for service charges,   \$ 30  . (d)Bank credit memorandum for note collected by bank,   \$ 2,050  , including   \$ 50   interest. (e)Bank debit memoranchum for   \$ 207.40   NSF (not sufficient funds) check from Alice Martin, a customer. (f)Checks outst anding   \$ 4,192.80  .

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