Jeezy Inc. had a bank balance of $6,500 at the end of the month. They also had the following reconciling items:

Deposit in transit                                                             $2,300

Interest revenue earned on the account                $12

Outstanding checks                                                         $1,400

Bank service fee                                                              $25

Booking error (check for $500 was rec. as $50)   $450

NSF checks                                                                      $150

Required

-         What was the adjusted balance for Jeezy Inc.?

Answer rating: 100% (QA)

To find the adjusted balance for Jeezy Inc we need to consider the reconciling items and make the ne... View the full answer