Question
The following information is needed to reconcile the cash balance for Baker's Dry Cleaning, Inc. bullet A deposit of $5,700 is in transit. bullet Outstanding
The following information is needed to reconcile the cash balance for Baker's Dry Cleaning, Inc. bullet A deposit of $5,700 is in transit. bullet Outstanding checks total $1,300. bullet The book balance is $6,400 at February 28, 2017. bullet The bookkeeper recorded a $1,500 check as $17,300 in payment of the current month's rent. bullet The bank balance at February 28, 2017 was $16,930. bullet A deposit of $300 was credited by the bank for $3,000. bullet A customer's check for $3,500 was returned for nonsufficient funds. bullet The bank service charge is $70. What was the adjusted book balance? A. $18,630 B. $18,770 C. $17,000 D. $18,700
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started