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I need help with this accounting problem! and let me know which dropdown im supposed to useee! As of June 30 , Year 2 ,
I need help with this accounting problem! and let me know which dropdown im supposed to useee!
As of June 30 , Year 2 , the bank statement showed an ending balance of $18,542. The unadjusted Cash account balance was $16,940. The following information is available: 1. Deposit in transit, $2,265. 2. Credit memo in bank statement for interest earned in June, $24. 3. Outstanding check, $3,856. 4. Debit memo for service charge, $13. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 2, using the preceding information. Note: Negative amounts should be indicated with minus sign. \begin{tabular}{|l|} \hline \multicolumn{3}{|c|}{ Bank Reconciliation } \\ \hline Unadjusted bank balance 6/30/Year 2 \\ Add: Credit memo for interest earned \\ Add: Debit memo for service charge \\ Add: Deposit in transit \\ Add: Outstanding check \end{tabular}Step by Step Solution
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