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Following is the general

Following is the general

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Following is the general format of a four-column bank reconciliation with the various categories and presentation numbered (1) through (8): Per Bank Statement Items to be added: Items to be deducted: Per Books Select one: a. 3 and 7 b. 2 and 3 Indicate the proper location for the following reconciling items. c. 1 and 4 Balance 10/31 d. 4 and 8 $XXXXX 1 2 $XXXXX e. 4 and 7 November November Receipts A customer check received by the company in November was recorded by the bank but erroneously not recorded by the books. This item will appear as: Disbursements $XXXXX 3 4 $XXXXX $XXXXX $XXXXX 5 6 Balance 11/30 $XXXXX 7 8 XXXX
Transcribed Image Text:Following is the general format of a four-column bank reconciliation with the various categories and presentation numbered (1) through (8): Per Bank Statement Items to be added: Items to be deducted: Per Books Select one: a. 3 and 7 b. 2 and 3 Indicate the proper location for the following reconciling items. c. 1 and 4 Balance 10/31 d. 4 and 8 $XXXXX 1 2 $XXXXX e. 4 and 7 November November Receipts A customer check received by the company in November was recorded by the bank but erroneously not recorded by the books. This item will appear as: Disbursements $XXXXX 3 4 $XXXXX $XXXXX $XXXXX 5 6 Balance 11/30 $XXXXX 7 8 XXXX
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