Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(2) The cash account shows a balance of $85,000 before reconciliation. The bank statement does not include a deposit of $5,000 made on the last
(2) The cash account shows a balance of $85,000 before reconciliation. The bank statement does not include a deposit of $5,000 made on the last day of the month. The bank statement shows a collection by the bank of $2,400 and a customer's check for $680 was returned because it was NSF. A customer's check for $900 was recorded on the books as $1,080, and a check written for $138 was recorded as $183. The correct balance in the cash account was Select one: O a. $95,350 b. $86,540. C. $87,400. d. The answer does not exist e. $86,785
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started