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Question - Application exercise and Bank reconciliation

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Question - Application exercise: Bank reconciliation

Using the following information, prepare the bank reconciliation as of December 31, 2014:

Book balance: $25,000

Checks in circulation: $1,500

Deposits in transit: $3,000

Bank balance: $23,450

Bank charges not registered in the company's books: $50

Required - Determine the following: Adjusted balance in books and Bank adjusted balance.

Reference no: EM132565410

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