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Mongal Companys unadjusted cash balance at the end of April was $28,700. Other relevant information is: deposits in transit, $4,600; a credit memo in the
Mongal Companys unadjusted cash balance at the end of April was $28,700. Other relevant information is: deposits in transit, $4,600; a credit memo in the bank statement for interest earned, $1,000; a $1,000 check written by Mongals controller was incorrectly recorded as $110 by the companys bookkeeper; a debit memo in the bank statement for a $16 bank service charge; and outstanding checks, $4,200. The true cash balance on April 30 was
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