Homework Help is Here – Start Your Trial Now!
Business
Accounting
The cash account shows a balance of $39700 before reconciliation. The bank statement does not include a deposit of $9600 made on the last day of the month. The bank. statement shows a collection by the bank of $3900 and a customer's check for $1310 was returned because it was NSF. A customer's check for $1350 was recorded on the books as $1890, and a check written for $322 was recorded as $395. The correct balance in the cash account was O $51423. O $41677. O $42757. O$41823.

The cash account shows a balance of $39700 before reconciliation. The bank statement does not include a deposit of $9600 made on the last day of the month. The bank. statement shows a collection by the bank of $3900 and a customer's check for $1310 was returned because it was NSF. A customer's check for $1350 was recorded on the books as $1890, and a check written for $322 was recorded as $395. The correct balance in the cash account was O $51423. O $41677. O $42757. O$41823.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
See similar textbooks
icon
Related questions
Question
The cash account shows a balance of $39700 before reconciliation. The bank statement does not include a deposit of $9600 made on the last day of the month. The bank statement shows a collection by the bank of $3900 and a customer's check for $1310 was returned because it was NSF. A customer's check for $1350 was recorded on the books as $1890, and a check written for $322 was recorded as $395. The correct balance in the cash account was O $51423. O $41677. O $42757. O$41823.
Transcribed Image Text:The cash account shows a balance of $39700 before reconciliation. The bank statement does not include a deposit of $9600 made on the last day of the month. The bank statement shows a collection by the bank of $3900 and a customer's check for $1310 was returned because it was NSF. A customer's check for $1350 was recorded on the books as $1890, and a check written for $322 was recorded as $395. The correct balance in the cash account was O $51423. O $41677. O $42757. O$41823.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Quickbooks Online Accounting
Quickbooks Online Accounting
Accounting
ISBN:
9780357391693
Author:
Owen
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS