Identify which is the correct answer. 2. If the month-end bank statement shows a balance of...

Transcribed Image Text:

Identify which is the correct answer. 2. If the month-end bank statement shows a balance of 720,000, outstanding checks are 240,000, a deposit of 80,000 was in transit at month end, and a check for 10,000 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is a. 550,000. b. 570,000. c. 410,000. d. 870,000. BI EE A f US XX T Identify which is the correct answer. 2. If the month-end bank statement shows a balance of 720,000, outstanding checks are 240,000, a deposit of 80,000 was in transit at month end, and a check for 10,000 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is a. 550,000. b. 570,000. c. 410,000. d. 870,000. BI EE A f US XX T