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Compute the adjusted cash balance per the bank records

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Reference no: EM132104297

Question - Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $28,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following:

Deposit in transit 3,450

Outstanding checks 1,377

Additionally, a $47 check written and recorded by the company correctly was recorded by the bank as a $74 deduction.

Compute the adjusted cash balance per the bank records?

Reference no: EM132104297

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