Munster Company's May 31 bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation?
Munster Company's May 31 bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation?
College Accounting (Book Only): A Career Approach
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ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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![Munster Company's May 31 bank reconciliation shows deposits in
transit of $1,400. The general ledger Cash in Bank account shows
total cash receipts during June of $55,600. The June bank statement
shows total cash deposits of $54,300 (and no credit memos).
What amount of deposits in transit should appear in the June 30
bank reconciliation?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbf10dc44-601a-4213-9bd5-6d89c93e2f29%2Feff8db0d-fe2e-4d01-95e4-9489ed5f5820%2Fwykh5mf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Munster Company's May 31 bank reconciliation shows deposits in
transit of $1,400. The general ledger Cash in Bank account shows
total cash receipts during June of $55,600. The June bank statement
shows total cash deposits of $54,300 (and no credit memos).
What amount of deposits in transit should appear in the June 30
bank reconciliation?
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