Reference no: EM133167279
Question - Cash data related to JAN Company for the month of June of the current year are shown below.
Balance per bank statement, June 30 875,000
Collections on June 31 but undeposited 137,500
NSF check received from a customer returned by the bank on July 7 with the June bank statement 12,500
Checks outstanding on June 30 162,500
Bank debit memo for safety deposit box rental not recorded by depositor 1,250
A creditor's check for 7,500 was incorrectly recorded in the depositor's book as 75,000
A customer's check for 50,000 was recorded by the depositor as 5,000
The depositor neglected to make an entry in its books for a check drawn in payment of an accounts payable 31,250
Compute the corrected cash balance on June 30.
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