The bank statement showed an ending balance of $26,100. The unadjusted Cash account balance was $27,350.
The following information is available:
1. Deposit in transit, $6,981.
2. Credit memo in bank statement for interest earned in May, $36.
3. Outstanding check, $5,720.
4. Debit memo for service charge, $2
5. Required Determine the true cash balance by preparing a bank reconciliation as of May 31, 2014, using the preceding information.
References eBook & Resources WorksheetDifficulty: 1 Easy Exercise 4-10 Adjusting the cash account LO 4-2Learning Objective: 04-02 Prepare a bank reconciliation. Check my work ©2016 McGraw-Hill Education. All rights reserved. Requires a modern browser - e.g. Safari 1, Netscape 6 or IE 5.