In preparing its bank reconciliation for the month of March 2007, Derby Company has available the following information: Balance per bank statement 3/31/07 $36,050, Deposit in transit 3/31/07 6,250, Outstanding checks 3/31/07 5,750, Credit erroneously recorded by bank in Derby's account 3/12/07 250, Bank service charges for March 50. What should be the correct balance of cash, at March 31, 2007? $35,250 $36,250 $36,300 $36,550

In preparing its bank reconciliation for the month of March 2007, Derby Company has available the following information: Balance per bank statement 3/31/07 $36,050, Deposit in transit 3/31/07 6,250, Outstanding checks 3/31/07 5,750, Credit erroneously recorded by bank in Derby's account 3/12/07 250, Bank service charges for March 50. What should be the correct balance of cash, at March 31, 2007? $35,250 $36,250 $36,300 $36,550

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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