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As of May 31, 2010, the bank statement showed an ending balance of $18,500. The unadjusted Cash account balance was $16,950. The following information is
As of May 31, 2010, the bank statement showed an ending balance of $18,500. The unadjusted Cash account balance was $16,950. The following information is available: |
1. | Deposit in transit, $2,630. |
2. | Credit memo in bank statement for interest earned in May, $25. |
3. | Outstanding check, $4,208. |
4. | Debit memo for bank service charge, $53. |
Required: |
Determine the true cash balance by preparing a bank reconciliation as of May 31, 2010, using the preceding information. (Amounts to be deducted should be indicated with minus sign. Omit the "$" sign in your response.) |
Bank Reconciliation | |
Unadjusted Bank Balance 5/31/2010 | $ |
Add : (Click to select)Debit Memo for Bank Service ChargeOutstanding CheckDeposit in TransitError in Recording Check for RepairsCredit Memo for Interest Earned | |
Less : (Click to select)Outstanding CheckCredit Memo for Interest EarnedDebit Memo for Bank Service ChargeError in Recording Check for RepairsDeposit in Transit | |
True Cash Balance 5/31/2010 | $ |
Unadjusted Book Balance 5/31/2010 | $ |
Add : (Click to select)Outstanding CheckDebit Memo for Bank Service ChargeDeposit in TransitError in Recording Check for RepairsCredit Memo for Interest Earned | |
Less : (Click to select)Deposit in TransitError in Recording Check for RepairsCredit Memo for Interest EarnedOutstanding CheckDebit Memo for Bank Service Charge | |
True Cash Balance 5/31/2010 | $ |
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