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Calculate the correct balance of cash at the end of March?
Brangelina Adoption Agency's general ledger shows a cash balance of $4,771. The balance of cash in the March-end bank statement is $7,350. The bank statement reveals the following information: checks outstanding of $2,650, bank service fees of $95, and interest earned of $24.
I need to calculate the correct balance of cash at the end of March?
I got $4629 but it is wrong
1 Answer
- SandyLv 77 years agoFavorite Answer
Balance per cash book $4,771
- bank service fees $95
+ interest earned of $24
= correct balance of cash $4,700
Balance per bank statement $7,350
- checks outstanding $2,650
= Adjusted bal. per bank statement $4,700