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Required information [The following information applies to the questions displayed below.] The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date
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[The following information applies to the questions displayed below.] The August bank statement and cash T-account for Martha Company follow:
BANK STATEMENT | ||||||||||||||
Date | Checks | Deposits | Other | Balance | ||||||||||
Aug. | 1 | $ | 15,750 | |||||||||||
2 | $ | 220 | 15,530 | |||||||||||
3 | $ | 10,800 | 26,330 | |||||||||||
4 | 320 | 26,010 | ||||||||||||
5 | 210 | 25,800 | ||||||||||||
9 | 730 | 25,070 | ||||||||||||
10 | 230 | 24,840 | ||||||||||||
15 | 3,600 | 28,440 | ||||||||||||
21 | 320 | 28,120 | ||||||||||||
24 | 18,500 | 9,620 | ||||||||||||
25 | 6,400 | 16,020 | ||||||||||||
30 | 720 | 15,300 | ||||||||||||
30 | Interest earned | $20 | 15,320 | |||||||||||
31 | Service charge | 10 | 15,310 | |||||||||||
Cash (A) | |||||||
Aug. 1 | Balance | 15,750 | |||||
Deposits | Checks written | ||||||
Aug. 2 | 10,800 | 220 | Aug. 1 | ||||
12 | 3,600 | 320 | 2 | ||||
24 | 6,400 | 210 | 3 | ||||
31 | 4,600 | 230 | 4 | ||||
730 | 5 | ||||||
250 | 15 | ||||||
430 | 17 | ||||||
720 | 18 | ||||||
320 | 19 | ||||||
18,500 | 23 | ||||||
Aug. 31 | Balance | 19,220 |
No deposits were in transit and no checks were outstanding at the end of July.
- After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?
- If the company also has $80 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the August 31 balance sheet?
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