The cash account in the ledger shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $2,300 made on the last day of the month. The bank statement shows a collection by the bank of $940 and a customer’s check for $220 was returned because it was NSF. A customer’s check for $450 was recorded on the books as $540, and a check written for $79 was recorded as $97. The correct balance in the cash account was:

a. $42,612

b. $42,648

c. $42,828

d. $44,948

Answer rating: 100% (QA)

The correct balance in the cash account was Bank Recon... View the full answer