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As of June 30, 2018, the bank statement showed an ending balance of $18,694. The unadjusted Cash account balance was $17,511. The following information is
As of June 30, 2018, the bank statement showed an ending balance of $18,694. The unadjusted Cash account balance was $17,511. The following information is available:
- Deposit in transit, $2,590.
- Credit memo in bank statement for interest earned in June, $10.
- Outstanding check, $3,777.
- Debit memo for service charge, $14.
Required
Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negative amounts should be indicated with minus sign.)
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