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(Solved by Expert Tutors) Clayborn Company deposits all cash receipts on the day they are received


the close of business on May 31, its Cash account shows a debit balance of $18,525. Clayborn's May bank statement shows $17,000 on deposit in the bank. Determine the adjusted cash balance using the following information:

?

Deposit in transit $5,650

Outstanding checks $4,900

Bank service fees, not yet recorded by company $40

A NSF check from a customer, not yet recorded by the company $735


The adjusted cash balance should be:

 


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Apr 19, 2020

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