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Question
Using the following information, prepare a bank reconciliation for Candace Co. for May 31:
(1) The bank statement balance is $2,936.
(2) The cash account balance is $3,194.
(3) Outstanding checks amounted to $465.
(4) Deposits in transit are $655.
(5) The bank service charge is $50.
(6) A check for $97 for supplies was recorded as $79 in the ledger.
Answer
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