Question

The following information pertains to Wheaton Company. Allfigures are in dollars.

Deposits in transit on August 31: 1,200

Checks Outstanding on August 31: 2,500

Wheaton has received the September 30, bank statement that issummarized below:

Item Disbursements Deposits Balance August 31 Balance 12,800

Checks deposited during September 15,225

Note collected for Wheaton during September, including $75 ofinterest 975

Checks cleared during September 17,470

Bank Service Charges 30

NSF check returned to depositor 800

September 30 balance 10,700

Per Wheaton’s cash ledger, during September, it wrote checks fora total of $19,500 and deposited checks for a total of $17,500. Thecash ledger showed a balance of $9,500 on September 30th. Prepare abank reconciliation dated September 30 and arrive at the correctcash balance.

 

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