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Question
The following data were gathered to use in reconciling the bank statement of Build-A-Lot:
| Balance per bank | $14,355 |
| Balance per company records | 14,010 |
| Bank service charges | 80 |
| Deposits in transit | 4,100 |
| NSF checks | 775 |
| Outstanding checks | 5,300 |
a. What is the adjusted balance on the bank reconciliation?
b. Journalize any necessary entries for Build-A-Lot based on the bank reconciliation
Answer
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