Solution-Prepare in a proper format bank reconciliation for

Prepare in a proper format bank reconciliation for airborne

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Reference no: EM132721999

The following information is available for Airborne, Inc. as of March 31, 2020:

a. Cash on the books as of March 31 amounted to $22,754.16. Cash on the bank statement for the same date was $32,351.46.

b. A deposit of $3,344.50, representing cash receipts of March 31, did not appear on the bank statement.

c. Outstanding checks totaled $3,936.80.

d. A check for $1,920.00 returned with the statement was recorded incorrectly in the check register as $1,380.00. The check was for a cash purchase of merchandise.

e. The bank collected $10,300.00 for Airborne, on a note. The face value of the note was $10,000.00.

f. The bank mistakenly charged to the company account a check for $755.00 drawn by another company.

REQUIRED:

Problem 1: Prepare in a proper format the Bank Reconciliation for Airborne, Inc. as of March 31, 2020.

Problem 2: Prepare in proper format the Journal Entries necessary to adjust the accounts as of March 31, 2020.

Reference no: EM132721999

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Prepare in a proper format bank reconciliation for airborne

Reference no: EM132721999

Reference no: EM132721999

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