Jack Company has a $286 petty cash fund. At the end of the first month, the...

 

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Jack Company has a $286 petty cash fund. At the end of the first month, the accumulated receipts represent $17 for delivery expenses, $168 for merchandise inventory, and $14 for miscellaneous expenses. The fund has a balance of $49 The journal entry to record the reimbursement of the account includes credit to cash of: CCC Inc. deposits all cash receipts on the day they are received and makes all cash payments by check. The January general ledger shows $24,424 at the end of the month. A comparison of the bank statement to its general ledger cash account revealed the following: Reconciling Items NSF check deposit Deposit in transit Outstanding checks 549 2,100 1,100 Additionally, interest in the amount of $28 was earned on the bank account but had not been recorded in the general ledger. The adjusted cash balance per the book records should be: Jack Company has a $286 petty cash fund. At the end of the first month, the accumulated receipts represent $17 for delivery expenses, $168 for merchandise inventory, and $14 for miscellaneous expenses. The fund has a balance of $49 The journal entry to record the reimbursement of the account includes credit to cash of: CCC Inc. deposits all cash receipts on the day they are received and makes all cash payments by check. The January general ledger shows $24,424 at the end of the month. A comparison of the bank statement to its general ledger cash account revealed the following: Reconciling Items NSF check deposit Deposit in transit Outstanding checks 549 2,100 1,100 Additionally, interest in the amount of $28 was earned on the bank account but had not been recorded in the general ledger. The adjusted cash balance per the book records should be:

Answer rating: 100% (QA)

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