Using the following information, prepare a bank reconciliation for Cole Co. for May 31, 2011:
Definitions:
New Equipment
Assets purchased by firms for long-term use to aid in producing goods and services, often associated with capital investment.
Opportunity Cost
The act of losing potential rewards from other options upon the selection of a specific alternative.
Investment Line
A graphical representation showing the relationship between the level of investment and the rate of return or interest rate.
Income Axis
The vertical axis on a graph that represents different levels of income, commonly used in economics.
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