Question: Problem 2: Bank Reconciliation (24 points) The bank statement for Cates Company indicates a balance of $1,730 on June 30. The cash balance per books

Problem 2: Bank Reconciliation (24 points) The bank statement for Cates

Problem 2: Bank Reconciliation (24 points) The bank statement for Cates Company indicates a balance of $1,730 on June 30. The cash balance per books had a balance of $799 on this date. The following information pertains to the bank transactions for the company. Deposit of $260, representing cash receipts of June 30, did not appear on the bank statement. 2. 1. Outstanding checks totaled $340. 3. Bank service charges for June amounted to $25 4. The bank collected a note receivable for the company for $900 plus $56 interest revenue. 5. An NSF check for $80 from a customer was returned with the statement. Instructions a. Prepare a bank reconciliation for June 30. b. Prepare any adjusting entries necessary as a result of the bank reconciliation

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