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Oucher Corporation's bank statement included two types of electronic funds transfers (EFT). One type of EFT totalled $10,000 and was from customers payin their accounts online. Another type of EFT totalled $16,500 and was from Yamamoto paying its accounts payable online.
Required:
(a) How will each of these items affect Oucher's bank reconciliation?
(b) Prepare the required journal entries, if any, that Oucher will make to record the above information on its books.
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