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kondor19780726 [428]
2 years ago
14

A month-end bank statement shows a balance of $52,000, outstanding checks of $8,000, an intransit deposit of $3,500, and a deduc

tion error of $25 made by the bank against the account. What is the correct balance in the bank account at month end
Business
1 answer:
Semmy [17]2 years ago
4 0

Answer:

$56,552

Explanation:

A month-end bank statement shows a balance of $52,000, outstanding checks of $8,000, an intransit deposit of $3,500, and a deduction error of $25 made by the bank against the account.

The correct balance in the bank account at month end will be:

Balance as per bank statement....$52,000

Add: Outstanding Checks................$8,000

less: In transit deposit......................($3,500)

Add back: Deduction in error.............<u>....$52</u>

Correct balance in  bank account <u>$56,552</u>

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