Question:
As of June 30, 2012, the bank statement showed an ending balance of $13,879.85. The unadjusted cash account balance was $13, 483.75. The following information is available.
1. Deposit in transition $1476.30.
2. Credit memo in bank statement for interest earned in June, $35.00.
3. Outstanding check, $1843.74.
4. Debit memo for service charge, $6.34.
Determine the true cash balance by preparing a bank reconciliation as of June 300, 2012, using the preceding information.