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10 April, 20:26

The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. 3. Outstanding checks, August 31, $706. 4. August bank service charge not recorded by the depositor $58. 5. Deposits in transit, August 31, $3,610. In addition, $2,926 collected for Sunland Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Sunland Company. (a) Prepare a bank reconciliation at August 31, 2022.

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  1. 10 April, 21:01
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    The preparation is presented below:

    Explanation:

    The preparation of the bank reconciliation statement is presented below

    Sunland company

    Bank reconciliation statement

    August 31, 2022

    Particulars Amount Particulars Amount

    Bank cash balance $7,338 Company cash balance $7,374

    Add: Deposits in transit $3,610 Add: Collected $2,926

    Less: Outstanding Less: service fee - $58

    Check - $706

    Bank balance Company balance

    After reconciliation $10,242 After reconciliation $10,242
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Home » Business » The following information pertains to Sunland Company. 1. Cash balance per books, August 31, $7,374. 2. Cash balance per bank, August 31, $7,338. 3. Outstanding checks, August 31, $706. 4. August bank service charge not recorded by the depositor $58.
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