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Prepared bank reconciliation dated July

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Reference no: EM132641329

Question - Carter Inc. has the following information for July:

Cash T-Account Balance, July 31 $8,069

Cash as per Bank Statement, July 31 6,522

Deposits in Transit 3,000

Service Charges 27

Outstanding Checks 550

Interest Earned on Account 30

EFT Accounts Receivable Collection from Customers 900

Required -

1. Prepared bank reconciliation dated July 31.

2. Prepared any journal entries necessary to make the accounting records correct and complete.

3. What amount of cash should be reported on the July 31 Balance Sheet?

Reference no: EM132641329

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