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The following information is available for Trinkle Company for the month of June: The unadjusted balance per the bank statement on June 30 was $61,954.
The following information is available for Trinkle Company for the month of June:
- The unadjusted balance per the bank statement on June 30 was $61,954.
- Deposits in transit on June 30 were $2,315.
- A debit memo was included with the bank statement for a service charge of $27.
- A $5,521 check written in June had not been paid by the bank.
- The bank statement included a $900 credit memo for the collection of a note. The principal of the note was $850, and the interest collected amounted to $50.
Required Determine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)
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