TB Ex Qu. 4-180 Peterson Company's general ledger shows a... Peterson Company's general ledger shows a cash balance of $7,600 on May 31. May cash receipts of $1,280, included in the general ledger balance, are placed in the night depository at the bank on May 31 and processed by the bank on June 1. The bank statement dated May 31 shows an NSF check for $200 and a service fee of $50. The bank processes all checks written by the company by May 31 and lists them on the bank statement, except for one check totaling $1,760. The bank statement shows a balance of $7,830 on May 31. Prepare a bank reconciliation to calculate the correct ending balance of cash on May 31. (Amounts to be deducted should be indicated with a minus sign.)

TB Ex Qu. 4-180 Peterson Company's general ledger shows .... Peterson Company's general ledger shows a cash balance of $7600 on May 31 May cash receipts of $1.280, included in the general ledger balance, are placed in the night depository at the bank on May 31 and processed by the bank on June 1. The bank statement dated May 31 shows an NSF check for $200 and a service fee of $50. The bank processes all checks written by the company by May 31 and lists them on the bank statement, except for one check totaling $1760 The bank statement shows a balance of $7830 on May 31 Prepare a bank reconciliation to calculate the correct ending balance of cash on May 31. (Amounts to be deducted should be indicated with a minus sign.) PETERSON COMPANY Bank Reconciliation May 31 Bank's Cash Balance Company's Cash Balance Before reconciliation Before reconciliation After reconciliation After reconciliation