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The beginning checkbook balance of Shelley Co. was $5,559.10. The bank statement showed a bank balance...

The beginning checkbook balance of Shelley Co. was $5,559.10. The bank statement showed a bank balance of $7,888.44. The bookkeeper of Shelley Co. noticed a $111.10 deposit in transit along with check numbers 90 and 97 for $499.88 and $1,256.45, respectively, as outstanding. The bank statement credited Shelley's account for $750.99 for a note collected. The bank statement revealed a check printing charge of $66.88. The reconciled balance is:

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Answer #1
Bank Reconciliation Statement:
balance as per bank Statement 7888.44 Balance as per Books 5559.1
Add: Add:
Deposits in transit 111.1 Notes collected 750.99
Sub-total 7999.54 Sub-total 6310.09
Less: Outstanding checks (499.88+1256.45) 1756.33 Less: Check printing charges 66.88
Adjusted balance as per bank Statement 6243.21 Adjusted balance as per Books 6243.21
Reconciled Balance: $ 6243.21
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