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Indicate which adjustments would require a journal entry during the completion of the bank reconciliation.Place an "X" on the respective line(s).
________ a.Deposit in transit
________ b.Bank service charge
________ c.NSF check
________ d.Check written for $58 recorded on the company's ledger as $85
________ e.Outstanding checks
________ f.Check written for $42 recorded as $4
________ g.Check printing charge
________ h.Note collected by bank.
Gross Profit
The difference between revenue and the cost of goods sold, reflecting the core profitability of a company's operations.
Operating Expenses
Costs related to the normal day-to-day operations of a business, excluding the cost of goods sold.
Cost Of Goods Sold
The total cost directly associated with producing or acquiring the goods sold by a company during a specific period.
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