True balance in checking account can be calculated by preparing bank reconciliation :
Bank reconciliation
Balance on bank statement | 495 | Balance in your checkbook | 367 |
Deposit in transit | 66 | Interest earned on the account | 4 |
Total of outstanding checks | -213 | Service charge and other fees | -23 |
True balance | $348 | Trues balance | $348 |
True balance = $348
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Based on the following information, determine the true balance in your checking account $ 4 Balance...
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