Megan used a reconciliation worksheet provided by her bank. Line 5 should equal line 6 at the end of the reconciliation, but it does not. Friendly Bank Reconciliation Worksheet Amount 1. Enter the statement closing balance. $ 487 13 2. Enter the sum of any outstanding deposits or credits. $ 186 68 3. Add lines 1 and 2. $ 673 81 4. Enter the sum of any outstanding checks or debits. $ 174 01 5. Subtract line 4 from line 3. $ 499 80 6. Enter your checkbook balance. $ 362 60 Note: Lines 5 and 6 should be equal at the end of the reconciliation. Megan wants to first look for a single transaction that could have caused this problem with reconciliation. What is the amount of the transaction that Megan should look for in order to find a solution to the problem?

a. $325.79

b. $137.20

c. $12.67

d. $313.20

Question

Mathematics

Lukas Ortega

4 July, 05:39

Megan used a reconciliation worksheet provided by her bank. Line 5 should equal line 6 at the end of the reconciliation, but it does not. Friendly Bank Reconciliation Worksheet Amount 1. Enter the statement closing balance. $ 487 13 2. Enter the sum of any outstanding deposits or credits. $ 186 68 3. Add lines 1 and 2. $ 673 81 4. Enter the sum of any outstanding checks or debits. $ 174 01 5. Subtract line 4 from line 3. $ 499 80 6. Enter your checkbook balance. $ 362 60 Note: Lines 5 and 6 should be equal at the end of the reconciliation. Megan wants to first look for a single transaction that could have caused this problem with reconciliation. What is the amount of the transaction that Megan should look for in order to find a solution to the problem?

a. $325.79

b. $137.20

c. $12.67

d. $313.20

+2

Answers (2)

Know the Answer?

Jolie Cole · Answer 1

The answer is b on edg2020.

Felix Davila · Answer 2

b. $137.20 Subtract $362.60 from $499.80 to find the difference in the bank balance vs. Megan's balance. The amount is $137.20. So the correct answer is b.