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The Cash account of Ranger Security Systems reported a balance of $2,580 at December 31, 2024. There were outstanding checks totaling $700 and a
The Cash account of Ranger Security Systems reported a balance of $2,580 at December 31, 2024. There were outstanding checks totaling $700 and a December 31 deposit in transit of $400. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,570. Included in the bank balance was a collection of $700 on account from Nicole Lee, a Ranger customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger eamed on its bank balance. Prepare Ranger's bank reconciliation at December 31, Ranger Security Systems Bank Reconciliation Bank: Balance, December 31, 2024 ADD: December 31, 2024 LESS: Adjusted bank balance, December 31, 2024 Book Balance, December 31, 2024 ADD LESS Adjusted book balance, December 31, 2024
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