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Exercise 8-4 Prepare a bank reconciliation and specify cash available (L.O. 4) From...

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Accounting

Exercise 8-4
Prepare a bank reconciliation and specify cash available (L.O. 4)
From the following data, prepare a bank reconciliation and determine the correct available cash balance for Reed Company as of October 31, 2012.
Balance per bank statement, October 31, 2012
$13,974
Ledger account balance. October 31, 2012
8,088
Proceeds of a note collected by bank not yet entered in ledger (includes $500 of interest)
6,000
Bank service charges not yet entered by Reed Company
18
Deposit in transit
1,680
Outstanding checks:
No. 327
654
No. 328
288
No. 329
390
No. 331
252

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