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29 February, 05:05

Bank reconciliation information for Kaden Co. for May 31 is as follows: The bank statement balance is $2,936. The cash account balance is $3,194. Outstanding checks amounted to $465. Deposits in transit are $655. The bank service charge is $50. A check for $97 for supplies was recorded as $79 in the ledger. Record the appropriate journal entry for Kaden Co. If an amount box does not require an entry, leave it blank.

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  1. 29 February, 06:07
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    The Journal entry are as follows:

    (i) On May 31,

    Miscellaneous Expense A/c Dr. $50

    To cash A/c $50

    (To record bank service charges)

    (ii) On May 31,

    Supplies A/c Dr. $18

    To cash A/c $18

    (To record difference in recording)

    Workings:

    Supplies = $97 - $79

    = $18
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