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Prepare the bank reconciliation at July

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Question - On July 31, Beaupré Ltd. had a cash balance of $12,934 in its general ledger. The bank statement from the Caisse Populaire on that date showed a balance of $21,722. A comparison of the bank statement with the Cash account revealed the following:

1. The bank statement included service charges and debit and credit card processing fees of $118.

2. The bank statement included electronic collections from customers on account totalling $5,230. Beaupré had not recorded the EFT.

3. A deposit of $3,100 made by another company was incorrectly added to Beaupré's account by the Caisse Populaire.

4. Salaries of $4,200 were paid electronically during the month. The company has already recorded these.

5. Cheques outstanding on June 30 totalled $2,738. Of these, $2,162 worth cleared the bank in July. All cheques written in July cleared the bank in July.

Required - Prepare the bank reconciliation at July 31?

Reference no: EM132862029

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