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SHERIDAN COMPANY Bank Reconciliation
Question 7 View Policies Current Attempt in Progress The following information pertains to Sheridan Company. 1. Cash balance
Journalize the adjusting entries at August 31 on the books of Sheridan Company. (Credit account titles are automatically inde
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Answer #1

Bank Reconciliation

For the month ended August 31

Unadjusted bank statement balance 7338
Add: Deposit in transit 3010
10348
Less: Outstanding Checks -694
Adjusted balance 9654
Unadjusted Cash balance 7374
Add: EFT 2326
9700
Less: bank Charges -46
Adjusted balance 9654

Adjusting entry

Date account and explanation Debit Credit
Aug 31 Cash 2326
Account receivable 2326
(To record electronic fund transfer received by Bank)
Aug 31 Bank charges 46
Cash 46
(To record bank service charges)
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