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N76 [4]
3 years ago
8

Don Wyatt is unable to reconcile the bank balance at January 31. Don?s reconciliation is as follows.

Business
1 answer:
Ulleksa [173]3 years ago
4 0

Answer and Explanation:

The preparation of the correct bank reconciliation is presented below:

                                       <u>      Don Wyatt </u>

                         <u>Bank reconciliation statement  </u>

                                           <u>January 31</u>

<u>Particulars                       Amount           Particulars                    Amount  </u>

Bank cash balance        $3,800.20         Company cash balance $4,115.20

Deposits in transit           $650                Less: NSF check            -$570

Less: Outstanding                                    Less: service fee            -$35

Check                              -$940

Bank balance                                              Company balance

After reconciliation         $3,510.20           After reconciliation $3,510.20

We adjust the transactions according to the bank balance and book balance so that the both balance could be matched accordingly

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