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For requirements A fill in the box below, For requirement B multiple choice. Please explain answer You are reconciliating your company's bank statement to its

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For requirements A fill in the box below, For requirement B multiple choice. Please explain answer

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You are reconciliating your company's bank statement to its correct amount of CASH in the general ledger. You have requested a cutoff bank statement from the Bank as of January 15, 2022. You also were aware of the following information: The ending balance in the general ledger for CASH is $18,460, before the account has been reconciled to the bank statement. The cutoff bank statement shows a balance of $17,690 as of December 31st. In early January the bank cleared checks written by your company in the amount of $800 that had already been recognized in the ending balance of Cash but were still outstanding at the bank. On the cutoff bank statement, the bank indicates that a deposit of $1,200 was credited to your account. This deposit was already recognized in your ending Cash balance. The cutoff bank statement indicated that the bank had charged your company $70 in bank fees. In December you had deposited a customer's check for $300 with the bank. This check was subsequently returned by the bank in January as the customer had insufficient funds to cover the check. REQUIRED: a. After you have prepared the bank reconciliation, prepare all adjusting entries that you are going to make to get your general ledger for CASH correct. b. Determine the cash balance that should appear on the December 31,2021 financial statements. ) Determine the cash balance that should appear on your December 31,2021 financial statements. Select from the following possibilities: Answer A. $7858 B. $17,990 C. $18,090 D. $18,160 E. $18,490 F. $18,890 G. $19,290 H. None of the Above

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