Mitchell Company has the following information from its records and from the May bank statement:
Based on this information prepare a bank reconciliation for May.
Definitions:
Transportation-In
Costs associated with bringing raw materials to a manufacturing plant or storage location, typically classified as part of the inventory cost on the balance sheet.
NSF Check
A check that cannot be processed because the drawer's account does not have sufficient funds.
Outstanding Checks
Checks that have been written and recorded in the issuer's accounting system but have not yet been cashed or cleared by the bank.
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