F27. 4. Bedford Market's accountantthe following data:is preparing its May bank reconciliation and has collected161 027)(SCUS IA) Per BooksMay 1 balanceMay depositsMay checksNote collected (includes 10% interest)May service chargeMay 31 balance$11,60024,60027,800Per Bank$10,00021,20029,0004,400206,5808,400Additionally, deposits in transit and outstanding checks on April 30 were $4,400 and$2,800, respectively. All the deposits in transit and outstanding checks as of April 30cleared through the bank in May. The correct balance for cash at May 31 should bea. $10,960b. $12,780c. $11,180d. $13,980

The deposit in transit for current month should be added and previous month deposit in transit…

Bedford Market's accountant is preparing its the following data: May 1 balance May deposits May checks Note collected (includes 10% interest) May service charge May 31 balance Per Books $11,600 24,600 27,800 Per Bank $10,000 21,200 29,000 4,400 og 20 6,580 8,400 Additionally, deposits in transit and outstanding checks on April 30 were $4,400 and $2,800, respectively. All the deposits in transit and outstanding checks as of April 30 cleared through the bank in May. The correct balance for cash at May 31 should be

Bedford Market's accountant is preparing its the following data: May 1 balance May deposits May checks Note collected (includes 10% interest) May service charge May 31 balance Per Books $11,600 24,600 27,800 Per Bank $10,000 21,200 29,000 4,400 og 20 6,580 8,400 Additionally, deposits in transit and outstanding checks on April 30 were $4,400 and $2,800, respectively. All the deposits in transit and outstanding checks as of April 30 cleared through the bank in May. The correct balance for cash at May 31 should be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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