Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December:Note collected (principal, $800.00; interest, $8.00, signed by Johnson)$808Error in recording check No. 2234 payable to Beta, Inc.*50Bank service and collection charges15*The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445)Determine the adjusted ledger balance of cash as on December 31.a.$3,682b.$5,268c.$3,582d.$5,168

Bank reconciliation statement is used to determine the differences between the bank statement…

Answered: Burlywood Corp.'s ledger balance of…

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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Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following details for the month of December:

Note collected (principal, $800.00; interest, $8.00, signed by Johnson)	$808
Error in recording check No. 2234 payable to Beta, Inc.*	50
Bank service and collection charges	15

*The amount of $445, check No. 2234 payable to Beta, Inc., was recorded as $495 ($495 − $445)
Determine the adjusted ledger balance of cash as on December 31.

a.$3,682

b.$5,268

c.$3,582

d.$5,168

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