What is the reconciled balance? Big Jump Inc.'s accountant is preparing to complete the April bank reconciliation.

What is the reconciled balance?

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Big Jump Inc.'s accountant is preparing to complete the April bank reconciliation. The bank statement shows a balance of $877. The general ledger shows a balance of $503 in the Cash account. The accountant has identified the following items she believes are reconciling items: Outstanding checks Deposits in transit Debit memoranda from the bank Credit memoranda from the bank Error on the books (increases book cash) Amount collected by the bank Interest income $546 647 51 35 103 375 13 Big Jump Inc.'s accountant is preparing to complete the April bank reconciliation. The bank statement shows a balance of $877. The general ledger shows a balance of $503 in the Cash account. The accountant has identified the following items she believes are reconciling items: Outstanding checks Deposits in transit Debit memoranda from the bank Credit memoranda from the bank Error on the books (increases book cash) Amount collected by the bank Interest income $546 647 51 35 103 375 13

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To determine the reconciled balance youll need to start with one of the two balances provided either the bank statement balance or the general ledger ... View the full answer