As of May 31, Year 1, the bank statement showed an ending balance of $26,100. The unadjusted
Question:
As of May 31, Year 1, the bank statement showed an ending balance of $26,100. The unadjusted Cash account balance was $27,350. The following information is available:
1. Deposit in transit: $6,981.
2. Credit memo in bank statement for interest earned in May: $36.
3. Outstanding check: $5,720.
4. Debit memo for service charge: $25.
Required
Determine the true cash balance by preparing a bank reconciliation as of May 31, Year 1, using the preceding information.
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Bank Reconciliation Unadjusted Bank Balance 531Year 1 26100 ...View the full answer
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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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