Question: Problem 3 MSD depsits all receipts and makes all paymnet by check. The following informatuon is available from the cash records: March 31 bank Reconciliation

Problem 3
MSD depsits all receipts and makes all paymnet by check. The following informatuon is available from the cash records:
March 31 bank Reconciliation
Balance per bank
Add: Deposits in Transit
Deduct: Oustanding Checks
Balance per books
Month of April Result
Balance April 30
April Deposits
April Checks
April Note collected (Not inclided in April Deposits)
April bank service charge
April NSF check of a customer returned by the bank (recorded by bank service charge)
Instruction:
(a) Calculate the amount of the April 30:
1) Deposits in Transit
2) Outstanding checks
(b) What is the April 30 adjusted cash balance? Show all the work

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