In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following...

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In the process of reconciling its bank statement for January, Maxis Clothings accountant compiles the following information

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Answer 1

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Answer #1

Cash balance as per company books on January 30	6,325
Bank service charges	-41
EFT Automatically deducted monthly, not yet recorded by Maxi	-700
An NSF check returned on a customer account	-425
Adjusted cash balance as per books on January 31	$5,159

Third option is correct option.

Deposit in transit and Outstanding checks affect balance on as per bank, and hence these have been ignored.

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Answer 2

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