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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                       $ 320    4 #2 $ 40   $ 80             360   12 #4   130         NSF check $ 80     150   28 #5   50                   100   30 #6   45     320             375   May 31 #8   85         Service charge   35     255       Cash (A) May 1 320     May 3 80 40 May 3 #2     100 May 4 #3     130 May 8 #4     50 May 11 #5     45 May 21 #6 May 29 320 55 May 29 #7 May 30 210 85 May 30 #8 May 31 425

Use the following bank statement and T-account to prepare the May 31 bank reconciliation.   BANK STATEMENT Date Checks Deposits Other Balance May 1                       $ 320    4 #2 $ 40   $ 80             360   12 #4   130         NSF check $ 80     150   28 #5   50                   100   30 #6   45     320             375   May 31 #8   85         Service charge   35     255       Cash (A) May 1 320     May 3 80 40 May 3 #2     100 May 4 #3     130 May 8 #4     50 May 11 #5     45 May 21 #6 May 29 320 55 May 29 #7 May 30 210 85 May 30 #8 May 31 425

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                       $ 320  
 4 #2 $ 40   $ 80             360  
12 #4   130         NSF check $ 80     150  
28 #5   50                   100  
30 #6   45     320             375  
May 31 #8   85         Service charge   35     255  
 

 

Cash (A)
May 1 320    
May 3 80 40 May 3 #2
    100 May 4 #3
    130 May 8 #4
    50 May 11 #5
    45 May 21 #6
May 29 320 55 May 29 #7
May 30 210 85 May 30 #8
May 31 425    
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