Textbook Problem

Brief Exercise 4-30 Bank Reconciliation

Garrison Corporation was closing its books on May 31, 2020. Garrison’s accountant prepared a bank reconciliation as of May 31, 2020, and has found the following possible reconciling items between its book balance and its cash balance per the bank:

Garrison’s book balance $80,760

Outstanding checks 660

Customer’s NSF check returned by the bank 190

Interest earned on checking account 80

In the search for reconciling items, the accountant also discovered that Garrison made an error in recording a customer’s check: the amount was recorded in cash receipts as $290; the bank recorded the amount correctly as $920.

Required:

What amount will Garrison report as its adjusted cash balance at May 31, 2020?