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I am stuck on this question, please help! 4. The bank statement of Gig'em, Inc for February 28, 2020, showed an ending balance of $6,641.
I am stuck on this question, please help!
4. The bank statement of Gig'em, Inc for February 28, 2020, showed an ending balance of $6,641. The accounting records indicated an ending balance of $3,410. Comparing the bank statement with the company's books revealed the following reconciling items: The bank had collected, for Gig'em Inc., $1,030 on a note left for collection. The face value of the note was $1,000 A check written by Gig'em Inc. for $230, had been recorded in Gig'em Ine's books as $30. A deposit of $1,820 deposited on February 28 had been made too late to appear on the bank statement Outstanding checks totaled $4,185 A check written for $193 had been incorrectly charged by the bank as $139. Bank service charges for February amounted to 518, Determine the true cash balance for February 28, 2020 A C D. S4,276 54.222 54.622 54.372 $4,240 Step by Step Solution
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