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The following data were accumulated for use in reconciling the bank account of Zeks Co. for May 2016: 1. Cash balance according to the companys records at May 31, 2016, $24,556 2. Cash balance according to the bank statement at May 31, 2016, $31,856. 3. Checks outstanding, $13,280. 4. Deposit in transit, not recorded by bank, $6,392. 5. A check for $48 in payment of an account was erroneously recorded in the check register as $480 6. Bank debit memo for service charges, $20. A. Prepare a bank reconciliation, using the format shown in Exhibit 13. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. The word Deduct: or Add: will automatically appear if it is required. B. If the balance sheet were prepared for Zeks Co. on May 31, 2016, what amount should be reported for Cash? C. Must a bank reconciliation always balance (reconcile)?

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