Business, 18.03.2021 01:10, musiclyhollywoodbabo

Swifty Company has just received the August 31, 2020, bank statement, which is summarized below. County National Bank Disbursements Receipts Balance
Balance, August 1 $12,939
Deposits during August $44,468 57,407
Note collected for depositor,
including $55 interest 1,436 58,843
Checks cleared during August $47,645 11,198
Bank service charges 28 11,170
Balance, August 31 11,170

The general ledger Cash account contained the following entries for the month of August.

Cash
Balance, August 1 13,879 Disbursements in August 48,208
Receipts during August 48,335

Deposits in transit at August 31 are $5,248, and checks outstanding at August 31 total $1,450. Cash on hand at August 31 is $428. The bookkeeper improperly entered one check in the books at $147 which was written for $165 for supplies (expense); it cleared the bank during the month of August.

Required:
Prepare a bank reconciliation dated August 31, 2020, proceeding to a correct balance and adjusting entries.

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Swifty Company has just received the August 31, 2020, bank statement, which is summarized below. Co...