Question: Ryan Patrick operates a roller skating center He has just
Ryan Patrick operates a roller skating center. He has just received the monthly bank statement at June 30 from Citizens National Bank, and the statement shows an ending balance of $750. Listed on the statement are an EFT rent collection of $409, a service charge of $7, two NSF checks totaling $120, and a $10 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $610 and a June 30 deposit in transit of $1,765. During June, he recorded a $270 check for the salary of a part-time employee as $27. Patrick’s Cash account shows a June 30 cash balance of $1,876. How much cash does Patrick actually have at June 30, 2014?
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