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Question 1 of 3 View Policies Current Attempt in Progress /5 E When Crane Holdings Ltd.received its bank statement for the month of October,
Question 1 of 3 View Policies Current Attempt in Progress /5 E When Crane Holdings Ltd.received its bank statement for the month of October, it showed that the company had a cash balance of $13,760 as at October 31. Crane's general ledger showed a cash balance of $15,637 at that date. A comparison of the bank statement and the accounting records revealed the following information: 1. Bank service charges and debit and credit card processing fees for the month were $53. 2. 3. A cheque in the amount of $472 from one of Crane's customers that had been deposited during the last week of October was returned with the bank statement as "NSF Cheque #3421, which was a payment for utilities expenses, had been correctly written for $705 but had been incorrectly recorded in the general ledger as $558. 4. Crane had written and mailed out cheques with a value of $2,173 that had not yet cleared the bank account 5. 6. During the month, the bank collected a $1,640 note receivable plus the outstanding interest of $148 on behalf of Crane. The interest had already been accrued by Crane. The cash receipts for October 31 amounted to $5,166 and had been deposited in the night deposit chute at the bank on the evening of October 31. These were not reflected on the bank statement for October. a hp ENG US
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