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What is the correct adjusted general ledger balance

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Reference no: EM132768676

A company received a bank statement at the end of the month. The statement contained these items.

Bank service charge for the month: $300

Interest earned and added by the bank to the account: $100

Ending balance (reflects interest and bank service charge): $5,000

In comparing the bank statement to its own cash records, the controller of the company found these items.

Deposits made but not yet recorded by the bank: $3,000

Checks written and mailed but not yet recorded by the bank: $4,000

Before making any adjustment suggested by the bank statement, the cash balance according to the company's books is $4,200.

Problem 1: What is the correct adjusted general ledger balance as of the end of the month?

A. $4,800

B. $4,200

C. $5,000

D. $4,000

Reference no: EM132768676

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