HW3 - (a) AragonCompany BankReconciliation...

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(a) Aragon Company Bank Reconciliation Country National Bank, August 31, 2010 Banlance per bank statement (end of period) $8,089 Add: Cash on hand $310            Deposit in trnasit 3,800 4,110 12,199 Deduct: Outstanding checks 1,550 Correct cash balance $10,649 Balance per books $9,647 Add: Note and interest collected  1,040 10,687 Deduct: Bank service charges 20                  Understated check for supplies 18 38 Correct cash balance $10,649 (b) Cash 1,040           Note Recievable  1,000           Interest Revenue 40 Office expense - bank charges 20           Cash 20 Supplies expense 18          Cash 18 (c ) The correct amount of cash should be reported in the August 31 balance sheet is $10,649.
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This note was uploaded on 09/27/2011 for the course MGT 131 taught by Professor ? during the Spring '11 term at San Diego.

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HW3 - (a) AragonCompany BankReconciliation...

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