Hazelton Manufacturing prepares a bank reconciliation at the end of every month.
At the end of May, the general ledger checking account showed a balance of $1,430 and the bank statement showed a bank balance of $1,375.
Outstanding checks totaled $385 and deposits in transit were $185.
The bank statement listed service charges of $65 and NSF checks totaling $190.
The corrected cash balance is:
a. $920.
b. $985.
c. $1,175.
d. $1,375.
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Home » Business » Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,430 and the bank statement showed a bank balance of $1,375.