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Bears, Inc. needs to prepare a bank reconciliation. However, before reconciling the account it need...

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Accounting

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Bears, Inc. needs to prepare a bank reconciliation. However, before reconciling the account it need to determine the impact of each item. Classify and explain whether each item is (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the ban balance, or (4) a subtraction from the bank balance. As part of your explanation, please include the amount of the adjustment a. NSF check from a customer for $325. b. The business credited Cash for $460. The correct amount was $640. c. Deposits in transit, $600. d. Bank collection of note receivable of $1,000, and interest of $50. e. Interest earned on bank balance, $10. f. Outstanding checks, $400. g. Service charge, $15. h. The bank incorrectly decreased the business's account by $60 for a check written by another business

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