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(Solved) : Option 1 Conducting Bank Reconciliation Note Part 1 Bank Reconciliation Part 2 Adjusting E Q34214937

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Answer to Option #1: Conducting a Bank Reconciliation Note: Part 1 is the bank reconciliation itself and Part 2 is for the adjusti…

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Option #1: Conducting a Bank Reconciliation

Note: Part 1 is the bankreconciliation itself and Part 2 is for the adjustingentries.

Instructions: Using the information below,complete the bank reconciliation for both the “book” and

the “bank” sides and create all necessary adjusting journalentries.

Details:

  • Cash balance per company’s records as of July 31st, 2011 was$66,955.
  • Bank statement balance as of July 31st, 2011 was $15,875.
  • A deposit in the amount of $52,000 was deposited into the ... View full description