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- plugged in books
Brad's Market accountant is preparing its May bank reconciliation and has collected the following data:
Per Books Per Bank
May 1 balance $11,600 $10,000
May deposits 24,600 21,200
May checks 27,800 29,000
Note collected (includes 10% interest) ---- 4,400
May service charge ------ 20
May 31 balance 8,400 6,580
Additionally, deposits in transit and outstanding checks from April's reconciliation were $4,400 and $2,800 respectively.
The correct balance for cash at May 31 should be:
Answer: $12,780. However, how do you get this answer!
Per Books Per Bank
May 1 balance $11,600 $10,000
May deposits 24,600 21,200
May checks 27,800 29,000
Note collected (includes 10% interest) ---- 4,400
May service charge ------ 20
May 31 balance 8,400 6,580
Additionally, deposits in transit and outstanding checks from April's reconciliation were $4,400 and $2,800 respectively.
The correct balance for cash at May 31 should be:
Answer: $12,780. However, how do you get this answer!
Need help with accounting question. HELP!!?
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