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what is the dollar amount of outstanding checks at oct 31? The summary portion of Red Recreation's October 31 bank statement is below. $17.825 Balance,
what is the dollar amount of outstanding checks at oct 31?
The summary portion of Red Recreation's October 31 bank statement is below. $17.825 Balance, October 1 $52.500 Deposits and other credits $67.750 Checks and other charges $2,575 Balance, October 31 The bank statement detail shows that the bank charged Red Recreation for a $500 NSF and that the bank deposited a note collection for Red Recreation in the amount of $2.715. Also, Red Recreation earned $80 interest and paid a safety deposit fee of $75. These items are in the summary figures above Red Recreation finds two errors. In one case, the bank improperly charged Red Recreation's account for a $425 check that should have been charged to another company's account. In the other case, the bank cleared a check for the correct amount of $350. but Red Recreation recorded the check in the company books as $530, The September 30 bank reconciliation shows 56,250 deposits in transit and $4,100 outstanding checks Red Recreation's account ledger for October shows: Deposits $ 48.000 Checks $ 63.900 Balance, October 31 $ 4.075 OStep by Step Solution
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