Determine what adjustment is needed to cash balance book

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Problem 1. Transatlantic Corporation recorded its May 25th receipts on its books as $96. However, the receipts were actually $43. The deposit slip for the bank was prepared correctly as $43. What adjustment is needed to the Cash balance book

Problem 2. Transatlantic Corporation recorded its check number 7777 in its accounting records as $105. But, check number 7777 was actually written for $85 and it cleared the bank as $85. What adjustment is needed to the Cash balance book

Reference no: EM132707527

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