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Sebastian Company accounts for and deposits all of it cash collections immediately upon receipt. Sebastian...

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Accounting

Sebastian Company accounts for and deposits all of it cash collections immediately upon receipt. Sebastian also makes all payments by check. Sebastians 10-31 cash balance per books was $46,925. While completing its October bank reconciliation, Sebastian identified the following:

Deposits in transit$7,200

Outstanding checks17,000

Bank service charge 30

Returned check marked NSF from one of Sebastians customers 750

Prepare the AJE(s) Sebastian should make as a result of completing its October bank reconciliation.

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