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Sky Company is unable to reconcile the bank balance at January 31. Skys reconciliation is as follows. Cash balance per bank $5,300 Add: NSF check $1,570 Less: Bank service charge $35 Adjusted balance per bank $6,835 Cash balance per books $5,705 Less: Deposits in transit $750 Add: Outstanding checks $1,950 Adjusted balance per books $6,905 Which is the correct bank reconciliation? (Points : 5) Cash balance per bank statement $5,300 Deposit in transit $750 Outstanding checks $1,950 Adjusted cash balance per bank $2,600 Cash balance per books $5,705 NSF check $1,570 Bank service charge $35 Adjusted cash balance per books $6,920 Cash balance per bank statement $4,100 Deposit in transit $750 Outstanding checks $1,950 Adjusted cash balance per bank $5,300 Cash balance per books $5,705 NSF check $1,570 Bank service charge $35 Adjusted cash balance per books $4,100 Cash balance per bank statement $5,300 Deposit in transit $750 Outstanding checks $1,950 Adjusted cash balance per bank $4,100 Cash balance per books $5,705 NSF check $1,570 Bank Service charge $35 Adjusted cash balance per books $4,100

Question 2.2. Sky Company is unable to reconcile the bank balance at January 31. Skys reconciliation is as follows. Cash balance per bank $5,300 Add: NSF check $1,570 Less: Bank service charge $35 Adjusted balance per bank $6,835 Cash balance per books $5,705 Less: Deposits in transit $750 Add: Outstanding checks $1,950 Adjusted balance per books $6,905 Which is the correct journal entry? (Points : 5) Cash $1,605 Accounts payable $1,570 Service fee $35 Accounts receivable $1,570 Cash $1,570 Miscellaneous expense $35 Cash $35 Service fee $35 Accounts receivable $1,570 Cash $1,605

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