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Prepare adjusting journal entries

The following information for the month of December 20x6, with respect to cash activities, was gathered by Tressa Ltd.’s bookkeeper.

Cash balance per books, December 1 $ 3,700

Cash received during December 77,000

Cash payments made during December 77,548

Cash balance per bank statement, December 31 6,300

Cheques outstanding, December 31 5,300

Bank service charges for December 52

Deposits in transit at December 31 1,700

Cheque issued by Sparg Ltd. deducted from Tressa’s account in error by the bank 580

A $1,200 cheque received from a customer on December 13 in payment of an account receivable was incorrectly recorded as 1,020

Required -

a. Prepare the December 20x6 bank reconciliation for Tressa.

b. Prepare any adjusting journal entries that would result from the December 20x6 bank reconciliation.

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