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nata0808 [166]
3 years ago
8

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b

usiness on May 31, its Cash account shows a debit balance of $28,525. Clayborn's May bank statement shows $25,000 on deposit in the bank. Determine the adjusted cash balance using the following information:Deposit in transit $5,200Outstanding checks $4,600Bank service fees, not yet recorded by company $25A NSF check from a customer, not yet recorded by the company $600Required:What should be the adjusted cash balance?
Business
1 answer:
Aleks04 [339]3 years ago
7 0

Answer:

$27,900

Explanation:

The computation of adjusted cash balance is shown below:-

Adjusted cash balance = Balance at May 31 - bank service fees - NSF check

= $28,525 - $25 - $600

= $27,900

Therefore for computing the adjusted cash balance we simply deduct the bank service fee and NSF check from balance at may 31

Hence, the adjusted cash balance is $27,900

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Answer:

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3 0
2 years ago
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Hey there,

Answer:

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8 0
3 years ago
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