Question: Hello, Can you please help me answer the given problem FABM2M5Q3 Entity A is preparing its bank reconciliation for the month ended August 31, 2020.

Hello, Can you please help me answer the given problem

FABM2M5Q3 Entity A is preparing its bank reconciliation for the month ended August 31, 2020. The following information were determined: Cash balance per books, Aug. 31 - 460,000 Cash balance per bank statement, Aug. 31 - 520,000 Credit memo - 290,000 Debit memo - 310,000 Deposits in transit - 150,000 Outstanding checks - 320,000 Entity A erroneously recorded a 120,000 collection of an account receivable as 210,000. Requirement: Prepare the bank reconciliation

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