The Cash account of Ranger Security Systems reported a balance of $2,480 at May 31, 2014. There
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The Cash account of Ranger Security Systems reported a balance of $2,480 at May 31, 2014. There were outstanding cheques totalling $900 and a May 31 deposit in transit of $200. The bank statement, which came from Royal Bank, listed a May 31 balance of $3,800. Included in the bank balance was a collection of $630 on account from Kelly Brooks, a Ranger customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Ranger earned on its bank balance.
Prepare Ranger's bank reconciliation at May 31, 2014.
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