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Prepare the bank reconciliation and any required journal entries. Show all work!
From the following data, prepare a bank reconciliation and determine the correct available cash balance for Reed Company as of 2010 October 31.
Balance per bank statement, 2010 October 31 $13,974
Ledger account balance. 2010 October 31 8,088
Proceeds of a note collected by bank not yet entered in ledger (includes $500 of interest) 6,000
Bank service charges not yet entered by Reed Company 18
Deposit in transit 1,680
Outstanding checks:
No. 327 $654
No. 328 $288
No. 329 $390
No. 331 $252
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Which of these items related to bonds would be added back in the Operating section of the SCF under the indirect method?
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An accumulated depreciation account
S W Metals Corporation issues 1,000 shares of $100 par common stock for equipment. Prepare the journal entry for this transaction
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