Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $23,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 2,450 Outstanding checks 1,107 Additionally, a $48 check written and recorded by the company correctly, was recorded by the bank as an $84 deduction. The adjusted cash balance per the bank records should be
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $23,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 2,450 Outstanding checks 1,107 Additionally, a $48 check written and recorded by the company correctly, was recorded by the bank as an $84 deduction. The adjusted cash balance per the bank records should be
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Need General Accounting Questions Solution provide the Correct answer what is final Answer

Transcribed Image Text:Ryan Company deposits all cash receipts on the day they are received and makes all cash payments
by check. Ryan's June bank statement shows $23,361 on deposit in the bank. Ryan's comparison of
the bank statement to its cash account revealed the following:
Deposit in transit
2,450
Outstanding checks 1,107
Additionally, a $48 check written and recorded by the company correctly, was recorded by the
bank as an $84 deduction.
The adjusted cash balance per the bank records should be
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