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The Cash account of Let's Be Safe Security Systems reported a balance of $4,069 at December 31, 2020. There were outstanding checks totaling $1,720
The Cash account of Let's Be Safe Security Systems reported a balance of $4,069 at December 31, 2020. There were outstanding checks totaling $1,720 and a December 31 deposit in transit of $316. The bank statement, which came from Hometown Bank listed the December 31 balance as $6,079. Included in the bank balance was collection from a customer, James Mendez, who pays his account directly to the bank in the amount of $628. The bank statement also shows a service charge for $40 and interest revenue earned of $18 on the bank balance of Let's Be Safe Security Systems. Complete the bank reconciliation for Let's Be Safe Security Systems on December 31. Bank ADD: SUBTRACT: Adjusted Balance ADD: CHECKBOOK (COMPANY) SUBTRACT: Adjusted Balance
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