Subject: Business / Accounting
On September 30, Tumer Company‘s Cash account had a balance of $30,530. On that date, the
bank statement had a balance of $293M. Analysis of the bank statement and comparison of the statement with the records indicated the following: Deposits in transit of the end of September Outstanding checks at the end of September In reviewing the records, Turner Company also discovered the following error: A Jones Company deposit of $1,6T? was incorrectly credited to Turner Company’s account.
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Get Help Now!Required: Prepare the journal entries necessary to update the Cash account so that its balance is equal to
the adjusted balance per bank reconciliation. Make sure to enter the day for each separate
transaction. Note: It will be helpful if you prepare a bank reconciliation before you prepare the journal entries. Account Title
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