What is the correct adjusted cash balance in abs books

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Reference no: EM133379066

Question: AB Ltdt's bank statement for July shows a balance of $21,300 at July 31st. Outstanding cheques at July 3ist are $2,600 A deposit of $3025 made on July 30th is in transit and had not cleared the bank by July Sist. An automatic payment for $2,600 was erroneously charged by the bank against your account while it belongs to another bank customer (bank error)t

Required 1: After preparing the bank reconciliation what is the adjusted Bank Statement balance at month end to reflect this information?

Required 2: After preparing the bank reconciliation what is the correct adjusted Cash balance in AB's books to reflect this information?

Reference no: EM133379066

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