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The following bank statement was received. Prepare a bank reconciliation for May:
\begin{tabular}{|c|c|c|} \hline \begin{tabular}{c} Allarco Inc. \\ Unadjusted Trial Balance \\ May 31, 2024 \end{tabular} & & \\ \hline Cash & \begin{tabular}{c} Debit \\ 803,499.50 \end{tabular} & Credit \\ \hline Accounts receivable & 956,800 & \\ \hline Allowance for doubtful accounts... & 170,436 & \\ \hline Notes receivable & 77,815 & \\ \hline Merchandise inventory & 1,960,762 & \\ \hline Prepaid advertising & 10,500 & \\ \hline Office furniture & 8,400 & \\ \hline Accounts payable... & & 558,600 \\ \hline Common shares & & 106,500 \\ \hline Retained earnings & & 1,657,785 \\ \hline Cash dividends declared & 21,600 & \\ \hline Interest earned & & 202.50 \\ \hline Sales & & 2,974,400 \\ \hline Sales discounts & 40,352 & \\ \hline Cost of goods sold & 1,143,238 & \\ \hline Office salaries expense & 26,000 & \\ \hline Sales salaries expense.... & 72,000 & \\ \hline Rent expense, office space & 3,360 & \\ \hline Rent expense, selling space & 2,240 & \\ \hline Loss on sale of property, plant and equipment assets & 485 & \\ \hline Totals & 5,297,487.50 & 5,297,487.50 \\ \hline \end{tabular} dditional Information: The NSF cheque was received in April from Gulf Corp. for a sale dated April 15
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