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Use the following bank statement and T-account to prepare the May 31 bank reconciliation.   BANK STATEMENT Date Checks Deposits Other Balance May 1           $ 340 May 4 #2 $ 45 $ 85     380 May 12 #4 135   NSF check $ 85 160 May 28 #5 55       105 May 30 #6 50 340     395 May 31 #8 90   Service charge 40 265   Cash (A) Debit Credit May 1 340     May 3 85 45 May 3 #2     105 May 4 #3     135 May 8 #4     55 May 11 #5     50 May 21 #6 May 29 340 60 May 29 #7 May 30 220 90 May 30 #8 May 31 445

Use the following bank statement and T-account to prepare the May 31 bank reconciliation.   BANK STATEMENT Date Checks Deposits Other Balance May 1           $ 340 May 4 #2 $ 45 $ 85     380 May 12 #4 135   NSF check $ 85 160 May 28 #5 55       105 May 30 #6 50 340     395 May 31 #8 90   Service charge 40 265   Cash (A) Debit Credit May 1 340     May 3 85 45 May 3 #2     105 May 4 #3     135 May 8 #4     55 May 11 #5     50 May 21 #6 May 29 340 60 May 29 #7 May 30 220 90 May 30 #8 May 31 445

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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Use the following bank statement and T-account to prepare the May 31 bank reconciliation.
 

BANK STATEMENT
Date Checks Deposits Other Balance
May 1           $ 340
May 4 #2 $ 45 $ 85     380
May 12 #4 135   NSF check $ 85 160
May 28 #5 55       105
May 30 #6 50 340     395
May 31 #8 90   Service charge 40 265

 

Cash (A)
Debit Credit
May 1 340    
May 3 85 45 May 3 #2
    105 May 4 #3
    135 May 8 #4
    55 May 11 #5
    50 May 21 #6
May 29 340 60 May 29 #7
May 30 220 90 May 30 #8
May 31 445    

  

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