Question
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 | $4,925 |
| Deposits in transit at month-end | $1,840 |
| Outstanding checks at month-end | $540 |
| Bank service charges | $27 |
| EFT automatically paid monthly, not yet recorded by Maxi | $420 |
| An NSF check returned on a customer account | $285 |
The adjusted cash balance per the books on January 31 is:
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Fundamental Financial Accounting Concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Mark Edmonds, Christopher Edmonds
10th Edition
126015940X, 978-1260159400
