Below information are: At December 31, cash per company records was $17445; the cash per bank statement was$15981. Debit memoranda accompanied the bank statement; services charges for the December $24 and a $600 check drawn by Michel marked NSF.
Below information are:
At December 31, cash per company records was $17445; the cash per bank statement was$15981.
Debit memoranda accompanied the bank statement; services charges for the December $24 and a $600 check drawn by Michel marked NSF.
Cash receipts of $4353 on December 31 were not deposited until January 2.
Checks issued in December but were not included among the paid checks returned by the bank, no.520 for $978, no.521 for $2052 and no.522 for $483.
Instructions:
a) Prepared a
b) Assume that the company normally is not required to pay if maintains minimum $1000 balance, and if the average balance for December had been $4500, why did it have to pay $24 service charges
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