Question

I am stuck on this last problem.... probably overthinking it!! Thank you in advance!

Question 1016 points) (Learning Outcome 4) The following information is available for Matt's Inc. July 2018 bank reconciliation: Book balance 6/30/18 $6,575.00 Bank balance 6/30/18 $4,380.00 Outstanding Checks $345.00 Deposits in Transit $2,500.00 Service Charges $15.00 NSF check from customer $35.80 775 Interest Emned on Acct. $10.00 Al What is the adjusted Book balance after the bank reconciliation Show your calculations B) What is the adjusted Bank balance after the bank reconciliation Show your calculations

Answer 1

Bank Reconciliation Unadjusted Book Balance 6/30/18 Interest Earned on Acct. NSF check from customers 7/5 Debit memo for service charge A) Adjusted Book Balance 6/30/18 $6,575.00 $ 10.80 $ -35.80 $ -15.00 $6,535.00 Unadjusted Bank Balance 6/30/18 Deposit In Transit Outstandig Checks B) Adjusted Cash Balance 6/30/18 $4,380.00 $ 2,500.00 $ -345.00 $6,535.00

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