K The Cash account of Queen City Security Systems reported a balance of $2,510 at December 31, 2024. There were outstanding checks totaling $1,500 and a December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $4,300. Included in the bank balance was a collection of $500 on account from Sally Jones, a Queen City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Queen City earned on its bank balance. Prepare Queen City's bank reconciliation at December 31.

K The Cash account of Queen City Security Systems reported a balance of $2,510 at December 31, 2024. There were outstanding checks totaling $1,500 and a December 31 deposit in transit of $200. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $4,300. Included in the bank balance was a collection of $500 on account from Sally Jones, a Queen City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Queen City earned on its bank balance. Prepare Queen City's bank reconciliation at December 31.

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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