a. Prepare a bank reconciliation, using the format shown in Exhibit 12. Nakajima Co. Bank Reconciliation July 31 Cash balance according to bank statement $ fill in the blank 253cf5010032f9d_1 fill in the blank 253cf5010032f9d_3 fill in the blank 253cf5010032f9d_5 Adjusted balance $ fill in the blank 253cf5010032f9d_6 Cash balance according to company's records $ fill in the blank 253cf5010032f9d_7 fill in the blank 253cf5010032f9d_9 fill in the blank 253cf5010032f9d_11 Adjusted balance $ fill in the blank 253cf5010032f9d_12 b. If the balance sheet is prepared for Nakajima Co. on July 31, what amount should be reported for cash? $ fill in the blank 47cf9ffb006106a_1 c. Must a bank reconciliation always balance (reconcile)?
a)
Nakajima Co. Bank Reconciliation July 31
Cash balance according to the bank statement $25,940
Add: Deposit in transit $4,020
Deduct : Outstanding checks $5,000
Adjusted Balance $24,960
Cash balance according to the company's records $24,640
Add : Error on check $360
Deduct: Service charges $40
Adjusted Balance $24,960
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