Question
Greece, Inc.s June bank statement show a June 30 balance of $36,200. Prior to reconciliation, its books show a cash balance of $36,840. The information
Greece, Inc.s June bank statement show a June 30 balance of $36,200. Prior to reconciliation, its books show a cash balance of $36,840. The information below pertains to Greece:
Deposits in transit $2,800
Checks outstanding 1,920
Bank service charges 80
Error in Greeces records overstating cash disbursement 360
Check of another company charged erroneously against
Greece, Inc.s bank account 1,000
Bank statement shows bank collected a note receivable and
Interest income for Greece, Inc. 960
The reconciled cash balance at June 30 on the bank reconciliation should be:
a, $40,400
b. $38,080
c. $37,360
d. $37,080
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