Problem: The unadjusted cash account balance for Simone Company at December 31, 2019 is $54,200. The bank statement showed an ending balance of $56,447 at December 31, 2019. The following information is available:
Bank service charge $45
Outstanding checks $10,400
NSF check from customer $540
Deposit in transit $7,600
Interest earned $32
Required:
(1) Make bank reconciliation for December 31, 2019.
(2) What amount will be shown on the Balance Sheet for Cash at December 31, 2019?
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