The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31 $20,010. 2. Cash balance according to the bank statement at July 31, $21,110. 3. Checks outstanding, $4,060. 4. Deposit in transit, not recorded by bank, $3,260. 5. A check for $480 in payment of an account was erroneously recorded in the check register as $840. 6. Bank debit memo for service charges, $60.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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B859
The following data were accumulated for use in reconciling the bank account of Mathers Co. for July:
1. Cash balance according to the company's records at July 31 $20,010.
2. Cash balance according to the bank statement at July 31, $21,110.
3. Checks outstanding, $4,060.
4. Deposit in transit, not recorded by bank, $3,260.
5. A check for $480 in payment of an account was erroneously recorded in the check register as $840.
6. Bank debit memo for service charges, $60.
Transcribed Image Text:B859 The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31 $20,010. 2. Cash balance according to the bank statement at July 31, $21,110. 3. Checks outstanding, $4,060. 4. Deposit in transit, not recorded by bank, $3,260. 5. A check for $480 in payment of an account was erroneously recorded in the check register as $840. 6. Bank debit memo for service charges, $60.
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