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Vaselesa [24]
3 years ago
6

A bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, d

eposits in transit of $317, outstanding checks of $221, and NSF checks of $90. The correct cash balance is?
Business
1 answer:
kotegsom [21]3 years ago
4 0

Answer:

Correct cash balance is $  1,580

Explanation:

Balance as per cash book                                                    $ 1,681

Less: Bank charges                                                               $ (    11)  

Less: NSF cheques                                                                <u>$ (   90)</u>

Adjusted balance per cash book                                         <u> $ 1,580</u>

Balance per bank statement                                                  $ 1,484

Add: Deposits in transit                                                          $    317

Less; Outstanding checks                                                      <u>$ (  221)</u>

Adjusted balance per bank statement                                <u>$ 1,580</u>

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