The bank reconciliation shows the following adjustments: Deposits in transit: $862 Notes receivable collected by bank: $1,010; interest: $45 Outstanding checks: $590 Error by bank: $330 Bank charges: $38 Prepare the correcting journal entries. If an amount box does not require an entry, leave it blank.

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.