Record the amounts that increase cash Record amounts that decrease cash On Augus

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Record the amounts that increase cash

Record amounts that decrease cash

On August 31, 2018, the general ledger of The Dean Acting Academy shows a balance for cash of $7,844. Cash receipts yet to be deposited into the checking account total $3,238, and checks written by the academy but not yet processed by the bank total $1,325. The compary's balance of cash does not refilect a bank service fee of $25 and interest earned on the checking account of $36. These amounts are included in the balance of cash of $5,942 reported by the bank as of the end of August. Required: 1. Prepare a bank reconcillation to calculate the correct ending balance of cash on August 31, 2018. (Amounts to be deducted should be indicated with a minus sign.) THE DEAN ACTING ACADEMY Bank Reconciliation Au 31, 2018 Bank's Cash Balance Company's Cash Balance Per bank statement Per general ledger Bank balance per reconciliation mpany balance per reconciliation 2. Record the necessary entry (ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select"No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the amounts that increase cash.

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1

Journal:

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Banks cash balance Company's cash balance Per bank statement         5,942 Per general ledger        7,844 Deposits outstanding         3,238 Interest earned             36 Checks outstanding        -1,325 service fee            -25 Bank balance per recociliatoin         7,855 Company balance per reconciliation        7,855

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