Mesa Tables Co. uses a four-column bank reconciliation the bank statement reports May payments of $1,315, including service charges of $20. At the beginning of May, there were $90 of checks outstanding. At the end of May, there were $120 of checks outstanding. Before recording the bank service charge; Mesa Tables must have recorded May payments of: a. $1,325. b. $1,265. c. $1,305. d. $1,365.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 5EA: The bank reconciliation shows the following adjustments: Deposits in transit: $1,234 Outstanding...
icon
Related questions
Question

Need answer the questions

Mesa Tables Co. uses a four-column bank reconciliation the bank
statement reports May payments of $1,315, including service charges
of $20. At the beginning of May, there were $90 of checks
outstanding. At the end of May, there were $120 of checks
outstanding. Before recording the bank service charge; Mesa Tables
must have recorded May payments of:
a. $1,325.
b. $1,265.
c. $1,305.
d. $1,365.
Transcribed Image Text:Mesa Tables Co. uses a four-column bank reconciliation the bank statement reports May payments of $1,315, including service charges of $20. At the beginning of May, there were $90 of checks outstanding. At the end of May, there were $120 of checks outstanding. Before recording the bank service charge; Mesa Tables must have recorded May payments of: a. $1,325. b. $1,265. c. $1,305. d. $1,365.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning