Question: E7 and E8 EA7. LO 8.6 Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding

E7 and E8

EA7. LO 8.6 Using the following information, prepare a bank reconciliation. Bank balance: $3,678 Book balance: $2,547 Deposits in transit: $321 Outstanding checks: $108 and $334 Bank charges: $25 Notes receivable: $1,000; interest: $35 EAS. LO 8.6 Prepare the journal entry to reconcile the bank statement in Exercise 8.7

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