On April 30, the bank reconciliation of Blossom Company shows a deposit in transit of $1,450. The May bank statement and the general ledger Cash account in May show the following: BLOSSOM COMPANY Bank Statement (partial) Deposits Date Description Amount May 1 Deposit $1,450 5 Deposit 2,280 12 Deposit 3,262 20 Deposit 950 26 Deposit 1,318 30 EFT 976 30 Interest Earned 37 BLOSSOM COMPANY Cash Account (partial) Deposits Made Date Amount May 2 $2,280 9 3,226 16 950 23 1,318 30 1,366 Additional information: 1 The bank did not make any errors in May. 2. EFT is an electronic online payment from a customer. (a) Calculate the deposits in transit at May 31. Deposits in transit at May 31 $
On April 30, the bank reconciliation of Blossom Company shows a deposit in transit of $1,450. The May bank statement and the general ledger Cash account in May show the following: BLOSSOM COMPANY Bank Statement (partial) Deposits Date Description Amount May 1 Deposit $1,450 5 Deposit 2,280 12 Deposit 3,262 20 Deposit 950 26 Deposit 1,318 30 EFT 976 30 Interest Earned 37 BLOSSOM COMPANY Cash Account (partial) Deposits Made Date Amount May 2 $2,280 9 3,226 16 950 23 1,318 30 1,366 Additional information: 1 The bank did not make any errors in May. 2. EFT is an electronic online payment from a customer. (a) Calculate the deposits in transit at May 31. Deposits in transit at May 31 $
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.4.3P
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On April 30, the bank reconciliation of Blossom Company shows a deposit in transit of $1,450. The May bank statement and the general ledger Cash account in May show the following: BLOSSOM COMPANY Bank Statement (partial) Deposits Additional information: The bank did not make any errors in May. EFT is an electronic online payment from a customer. (a) Calculate the deposits in transit at May 31. Deposits in transit at May 31 $
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