As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted
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As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available:
1. Deposit in transit: $2,400.
2. Credit memo in bank statement for interest earned in June: $30.
3. Outstanding check: $6,690.
4. Debit memo for service charge: $20.
Required
Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.
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Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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