Question

Sanders Company had an unadjusted cash balance of $8,120 as of April 30. The company’s bank statement, also dated April 30, included a $200 NSF check written by one of Sanders’s customers. There were $1,525 in outstanding checks and $900 in deposits in transit as of April 30. According to the bank statement, service charges were $50, and the bank collected a $500 note receivable for Sanders. The bank statement also showed $31 of interest revenue earned by Sanders.

Required
Determine the true cash balance as of April 30.



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  • CreatedOctober 26, 2013
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