Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $29.361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit Outstanding checks Additionally, a $49 check written and recorded by the company was incorrectly recorded by the bank as a $94 deduction The adjusted cash balance per the bank records should be: Multiple Choice 3,650 1,431 $31.580

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.