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Aragon Company has just received the August 31, .To I S, bank statement. which is summarized below.
County Nations' Bank
Desbursetnents
Receipts
Otto
Balance August 1
S 0.369
Deposits during August
$32,200
41.569
Nolo collided kr depositor. Inckeang S40 Mount
1,040
42,609
Cusps cleared drip August
S34.500
8.109
Beret service themes
20
8.090
Balance, August 31
8.099
The general ledger Cash account contained the following entries (or the month of August.CashBalanock August 1 10,060 1 Disbursements
Deposits in transit at August 31 are 13,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $14650 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.
InstructionsQuestion (a) Prepare a bank reconciliation dated August 31, 2015, proceeding to a correct balance.
Question (b) Prepare any entries necessary to make the books correct and complete.
Question (c) What amount of cash should be reported in the August 31 statement of financial position?
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