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In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:
Cash balance per company books on January 30
$
7,025
Deposits in transit at month-end
$
2,260
Outstanding checks at month-end
$
750
Bank service charges
$
48
An NSF check returned on a customer account
$
840
The adjusted cash balance per the books on January 31 is:
a- 7,902
b- 7,12.52 (yes I know this is formatted incorrectly)
c-6,137
d-6,839
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