As of June 30, Year 1, the bank statement showed an ending balance of $16,760. The...

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As of June 30, Year 1, the bank statement showed an ending balance of $16,760. The unadjusted Cash account balance was $16,392. The following information is available: 1. Deposit in transit, $2,950. 2. Credit memo in bank statement for interest earned in June: $22. 3. Outstanding check: $3,307. 4. Debit memo for service charge: $11. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 Add: Deposit in transit Less: Outstanding check True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 Add: Credit memo for interest earned Less: Debit memo for service charge True cash balance 6/30/Year 1 0 $ 0 As of June 30, Year 1, the bank statement showed an ending balance of $16,760. The unadjusted Cash account balance was $16,392. The following information is available: 1. Deposit in transit, $2,950. 2. Credit memo in bank statement for interest earned in June: $22. 3. Outstanding check: $3,307. 4. Debit memo for service charge: $11. Required: Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information. Note: Negative amounts should be indicated with minus sign. Bank Reconciliation Unadjusted bank balance 6/30/Year 1 Add: Deposit in transit Less: Outstanding check True cash balance 6/30/Year 1 Unadjusted book balance 6/30/Year 1 Add: Credit memo for interest earned Less: Debit memo for service charge True cash balance 6/30/Year 1 0 $ 0

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The true cash balance as per the bank reconciliation as of June 30 Year 1 using the pre... View the full answer