Answer:
Cash balance according to the bank $23,557.98
+ deposits in transit $12,125.25
- outstanding check N⁰ 124 ($62)
- outstanding check N⁰ 125 ($42)
- outstanding check N⁰ 129 ($1,250)
adjusted bank balance = $34,329.23
Cash account balance $51,596.88
+ note collected by bank $15,250.75
- NSF check ($23,475.40)
- Bank fees ($250)
- Error in recording check N⁰ 125 ($9,000)
adjusted cash account balance = $34,122.23
two errors were detected:
- outstanding check N⁰ 125 correct amount is ($24)
- bank fees are $25
so the readjusted balances are:
adjusted bank balance = $34,329.23 + ($42 - $24) = $34,347.23
adjusted cash account balance = $34,122.23 + ($250 - $25) = $34,347.23
now both accounts are equal.
