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In: AccountingQuestion 2Culver Company has just received the August 31, 2017, bankstatement, which is summarized...Question 2Culver Company has just received the August 31, 2017, bankstatement, which is summarized below.County National BankDisbursementsReceiptsBalanceBalance, August 1 $13,192Deposits during August $45,338 58,530Note collected for depositor, including $56 interest 1,464 59,994Checks cleared during August $48,576 11,418Bank service charges 28 11,390Balance, August 31 11,390The general ledger Cash account contained the following entriesfor the month of August.CashBalance, August 1 14,150 Disbursements in August 49,150Receipts during August 49,280 Deposits in transit at August 31 are $5,350, and checksoutstanding at August 31 total $1,478. Cash on hand at August 31 is$436. The bookkeeper improperly entered one check in the books at$146.50 which was written for $164.50 for supplies (expense); itcleared the bank during the month of August. Prepare any entries necessary to make the books correct andcomplete. (If no entry is required, select "No Entry" for theaccount titles and enter 0 for the amounts. Credit account titlesare automatically indented when the amount is entered. Do notindent manually.)DateAccount Titles and ExplanationDebitCreditAug. 31, 2017 (To record collection of note and interest)Aug. 31, 2017 (To record August bank charges)Aug. 31, 2017 (To record error in recording check for supplies) What amount of cash should be reported in the August 31 balancesheet?Cash to be reported in the August 31 balance sheet $
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