1. Green Company gathered the following in preparing its December bank reconciliation:

Cash balance per books, 12/31	$8,400
Deposits-in-transit	3,000
Balance per bank statement	8,000
Bank charge for check printing	25
Outstanding checks	2,700
EFT receipt from customer on account	100
Customer NSF check returned	225
A check correctly written for $1,500 for payment on account was recorded in the journal for $1550	?

The amount of cash that should be reported on the December 31 balance sheet is:

$7,700

$8,200

$8,300

$8,700

2. White Company gathered the following in preparing its December bank reconciliation:

Cash balance per books, 12/31	$5,300
Deposits-in-transit	900
Balance per bank statement	4,800
Bank service charges	20
Outstanding checks	300
EFT receipt from customer on account	200
Customer NSF check returned	50
A check correctly written for $630 for payment on account was recorded in the journal for $600	?

The amount of cash that should be reported on the December 31 balance sheet is:

$4,200

$5,400

$5,430

$5,900