Question: Chapter 4 Homework Assignment eBook Calculator Brief Exercise 4-30 (Algorithmic) Bank Reconciliation Garrison Corporation was closing its books on May 31, 2018. Garrison's accountant prepared
Chapter 4 Homework Assignment eBook Calculator Brief Exercise 4-30 (Algorithmic) Bank Reconciliation Garrison Corporation was closing its books on May 31, 2018. Garrison's accountant prepared a bank reconciliation as of May 31, 2018, and has found the following possible reconciling items between its book balance and its cash balance per the bank! Garrison's book balance $14.500 Outstanding cheques 960 Customer's NSF cheque retured by the bank 190 Interest earned on chequing account 140 In the search for reconciling items, the accountant also discovered that Garrison made an error in recording a customer's cheque: the amount was recorded in cash receipts as $380: the bank recorded the amount correctly as $920. Required: What amount will Garrison report as its adjusted cash balance at May 31, 2018 Adjusting journal entries are required suired for at transactions correctly recorded by the bank that have not yet been included in the acounting records. Learning Objective Activate Windows Contact Windo
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