Outstanding checks: #1249 for $ 525 #1261 for 70 Bank service charges $ 50 Depos
ID: 2457739 • Letter: O
Question
Outstanding checks:
#1249 for
$ 525
#1261 for
70
Bank service charges
$ 50
Deposits in transit
$ 1,500
Customer note receivable collected by bank
$ 1,000
Cash balance per bank statement
$ 1,265
Cash balance per books
(prior to reconciliation)
$ 1,220
Outstanding checks:
#1249 for
$ 525
#1261 for
70
Bank service charges
$ 50
Deposits in transit
$ 1,500
Customer note receivable collected by bank
$ 1,000
Cash balance per bank statement
$ 1,265
Cash balance per books
(prior to reconciliation)
$ 1,220
Explanation / Answer
a: 2,170 balance per bank statement: 1265 less: 525 less: 70 pluss: 1500 equals: 2170 balance per books: 1220 less: 50 plus: 1000 equals: 2,170 b:debit accounts receivable, credit sales. c: not sure d: debit cash 18,000, credit A/R 20,000, debit sales discounts2,000
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