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Organic Food Company's Cash account shows a $6,900 debit balance and its bank statement shows $6,140 on deposit at the close of business on August
Organic Food Company's Cash account shows a $6,900 debit balance and its bank statement shows $6,140 on deposit at the close of business on August 31. a. August 31 cash receipts of $2,640 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $260 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $2,520. d. In reviewing the bank statement, an $220 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $160 in bank service charges; the company has not yet recorded the cost of these services
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