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The April 30, 2020, bank statement for Comet Company showed a cash balance of $7,400. The cash account in the company's general ledger (G/L), according
The April 30, 2020, bank statement for Comet Company showed a cash balance of $7,400. The cash account in the company's general ledger (G/L), according to the company's records on April 30, had a balance of $2.463. The following additional data were revealed during the reconciliation process: 1. A deposit of $670 that had been made by the company on March 31 was processed by the bank in April, and a deposit of $1,100 made on April 30 had not yet been processed by the bank. 2. The bank statement listed a deposit for $440 that was mistakenly put in Comet Company's bank account; it should have gone to Comment Company's account. 3. Comet Company determined that there were three cheques that had not yet been processed by the bank: #466 for $1,700,#467 for $520, and #470 for $1,100. 4. One of Comet's customers paid their account, transferring funds electronically to Comet's account. The amount transferred was $2,312 5. The bank service charge for the month was $35. What cash balance should Comet Company report on its statement of financial position as at April 30, 2020? Cash balance s
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