Cornerstone Exercise 4-17 (Algorithmic)Bank ReconciliationThe accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items were identified:Bellows' book balance$28,750Outstanding checks900Interest earned on checking account62Customer's NSF check returned by the bank395In addition, Bellows made an error in recording a customer's check; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730.Required:What amount will Bellows report as its adjusted cash balance at April 30, 2019?

Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Answered: Cornerstone Exercise 4-17…

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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Cornerstone Exercise 4-17 (Algorithmic)
Bank Reconciliation

The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items were identified:

Bellows' book balance	$28,750
Outstanding checks	900
Interest earned on checking account	62
Customer's NSF check returned by the bank	395

In addition, Bellows made an error in recording a customer's check; the amount was recorded in cash receipts as $370; the bank recorded the amount correctly as $730.

Required:

What amount will Bellows report as its adjusted cash balance at April 30, 2019?

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