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5 November, 05:17

An accounting clerk for Chesner Co. prepared the following bank reconciliation:

Chesner Co.

Bank Reconciliation

August 31

Cash balance according to company's records $8,290

Add: Outstanding checks $3,980

Error by Chesner Co. in recording Check 1056 as $940 instead of $490 450

Note for $13,000 collected by bank, including interest 13,520 17,950 $26,240

Deduct: Deposit in transit on August 31 $8,440

Bank service charges 30 8,470

Cash balance according to bank statement $17,770

From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co.

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Answers (1)
  1. 5 November, 06:53
    0
    Chesner Co.

    Bank Reconciliation August 31

    Cash balance $8,290

    Add:

    Outstanding checks $3,980

    Error on Check 1056. $ 450

    Note collected. $13,520

    Less:

    Deposit in transit. $8,440

    Bank service charges. $30

    Bank Balance. $17,770
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