This information relates to the Cash account in the ledger of Blossom Company. B

Question

This information relates to the Cash account in the ledger of Blossom Company. Balance September 1-$17,350; Cash deposited-$64,000 Balance September 30-$18,550; Checks written-$62,800 The September bank statement shows a balance of $17,450 at September 30 and the following memoranda Credits Debits $2,440 55 $1,170 70 Collection of electronic funds transfer NSF check: H. Kane Interest earned on checking account Safety deposit box rent At September 30, deposits in transit were $5,358 and outstanding checks totaled $3,003

Explanation / Answer

Bank Reconciliation September 30, 2017 Cash balance per bank statement 17450 Add: Deposits in transit 5358 22808 Less: Outstanding checks 3003 Adjusted cash balance per bank 19805 Cash balance per books 18550 Add: Collection of electronic fund transfer 2440 Interest earned 55 2495 21045 Less: NSF check 1170 Safety deposit box rent 70 1240 Adjusted cash balance per books 19805 2 Cash 2440       Accounts receivable 2440 Cash 55       Interest revenue 55 Accounts receivable 1170        Cash 1170 Miscellaneous expense 70        Cash 70

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