The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089
The Leo Company cash account had a balance of $962 on August 31. This included a bank deposit of $87 that was in transit on the 31st. The August 31 bank statement contained the following information: NSF Check Bank statement balance $ 1,089 $ 16 $ 7 $ 68 Bank service charge Collection of notes receivable Leo also had checks outstanding of $169. What is Leo's reconciled balance? a. $920 b. $962 c. $1,007 d. $1,089
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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