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22 June, 03:03

The May bank statement for Accounting Services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. Other information includes the following:

following:

-A check for $200 to pay the electric bill was recorded on the books as $20.

-Included on the bank statement was a note collected by the bank for $400 plus interest of $30.

-Checks outstanding totaled $260.

-Bank service charges were $50.

-Deposits in transit were $2,140.

The adjusted cash balance at the end of August should be

A. $7,980.

B. $9,810.

C. $7,620.

D. $8,180.

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Answers (1)
  1. 22 June, 06:11
    0
    From the situation above, there is a need for the balance to be adjusted. The adjusted cash balance at the end of August should be

    D. $8,180.
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