Before reconciling its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash

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Before reconciling its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $8,250. The bank reconciliation for the month contained the following items:

Deposits in transit $870

Outstanding checks 645

Interest earned 20

NSF check returned to bank 220

Bank service charge 70

Given the above information, what up-to-date ending cash balance should Lauren report at month-end?

A. $7,380.

B. $8,530.

C. $7,980.

D. $7,700.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Posted Date: Feb 14, 2022 03:38 AM

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Before reconciling its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash

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Particualrs Amount Cash balance 8250 Ad... View the full answer

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