Prepare a four-column reconciliation showing adjusted balances and prepare one adjusting journal entry on December 31 * Bedlam Company provided the following data for the month of December: November 30 December 31 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits 3,160,000 2,900,000 1,080,000 ? ? 2,032,000 1,890,000 Book credits Outstanding checks Deposit in transit Check erroneously charged by bank against entity's account and corrected in subsequent month Bank service charge Note recorded as cash receipt by entity when placed with bank for collection and note is actually collected by bank in subsequent month and credited by bank to entity's account in same month 1,440,000 180,000 80,000 592,000 498,000 40,000 2,000 50,000 4,000 200,000 300,000

Prepare a four-column reconciliation showing adjusted balances and prepare one adjusting journal entry on December 31 * Bedlam Company provided the following data for the month of December: November 30 December 31 Cash in bank account balance Bank statement balance Bank debits Bank credits Book debits 3,160,000 2,900,000 1,080,000 ? ? 2,032,000 1,890,000 Book credits Outstanding checks Deposit in transit Check erroneously charged by bank against entity's account and corrected in subsequent month Bank service charge Note recorded as cash receipt by entity when placed with bank for collection and note is actually collected by bank in subsequent month and credited by bank to entity's account in same month 1,440,000 180,000 80,000 592,000 498,000 40,000 2,000 50,000 4,000 200,000 300,000

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Description: Prepare a four-column reconciliation showing adjustedbalances and prepare one adjusting journal entry onDecember 31 *Bedlam Company provided the following data for the monthof December:November 30 December 31Cash in bank account balanceBank statemen

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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