Question: Referring to BE7-7, Indicate (a) The items that will result in an adjustment to the company's records, and (b) Why the other items do not

Referring to BE7-7, Indicate
(a) The items that will result in an adjustment to the company's records, and
(b) Why the other items do not require an adjustment.
Information from BE7-7
How would each of the following items be recorded on a bank reconciliation? Next to each item, record the correct letter from this list:
(a) Increase to bank balance,
(b) Decrease to bank balance,
(c) Increase to company cash balance,
(d) Decrease to company cash balance, or
(e) Not included in the bank reconciliation.
1. ___________ EFT payment made by a customer
2. ___________ Bank debit memorandum for service charges
3. ___________ Outstanding cheques from the current month
4. ___________ Bank error in recording a $1,779 deposit as $1,977
5. ___________ Outstanding cheques from the previous month that are still outstanding
6. ___________ Outstanding cheques from the previous month that are no longer outstanding
7. ___________ Bank error in recording a company cheque made out for $160 as $610
8. ___________ Bank credit memorandum for interest revenue
9. ___________ Company error in recording a deposit of $160 as $1,600
10. __________ Bank debit memorandum for a customer's NSF cheque
11. __________ Deposit in transit from the current month
12. __________ Company error in recording a cheque made out for $630 as $360?

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