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The following information pertains to Cullumber Company. 1. Cash balance per books, August 31, $7,424. 2....

 The following information pertains to Cullumber Company.


 1. Cash balance per books, August 31, $7,424.

 2. Cash balance per bank, August 31, $7,388.

 3. Outstanding checks, August 31, $701.

 4. August bank service charge not recorded by the depositor $53.

 5. Deposits in transit, August 31, $3,360.


 In addition, $2,676 collected for Cullumber Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Cullumber Company.


 Prepare a bank reconciliation at August 31, 2022. (List items that increase balance as per bank & books first.)

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 Journalize the adjusting entries at August 31 on the books of Cullumber Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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