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Ber [7]
4 years ago
14

The balance in Santee Company's Cash account on May 31 was $3,492.50 before the bank re conciliation statement was prepared, Aft

er examining the May bank statement and items included with it, the company's accountant found: Outstanding checks $ 950.40 NSF Check from a customer 375.00 Note collected by bank for the Santee Co. 450.00 Deposit in transit 825.75 Service Charges 625 What is the adjusted amount of Cash that should be reported for May 31? $3,561.25 $3,536.60 $3,367.85 $4,311.25
Business
1 answer:
NISA [10]4 years ago
8 0

Answer:

$3,561.25

Explanation:

Statement showing computations  

Particulars                                           Amount

Cash balance per books              3,492.50

Service Charges                               (6.25)

Note Collected by Bank              450.00

NSF Check from Customer               (375.00)

Adjusted amount of Cash               3,561.25

Therefore, The adjusted amount of Cash that should be reported for May 31 is $3,561.25

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