The general ledger cash in bank account shows total cash


Question - Fremont Corporation's March 31 bank reconciliation shows deposits in transit of $1,100.

The general ledger Cash in Bank account shows total cash receipts during April of $38,300.

The April bank statement shows total cash deposits of $37,400 (including $1,600 from the collection of a note; the note collection has not yet been recorded by Fremont).

What amount of deposits in transit should appear in the April 30 bank reconciliation?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: The general ledger cash in bank account shows total cash
Reference No:- TGS02872706

Now Priced at $25 (50% Discount)

Recommended (94%)

Rated (4.6/5)