Determine the adjusted cash ledger balance

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Reference no: EM131969820

Question - A business has the following data as of January 31:

$15,850 Cash balance per bank statement

$17,500 Cash balance per company ledger

$1,650 Outstanding checks

$4,100 Deposits in transit

$50 Bank service charges for the month of January

$796 Cash collected by the bank acting as a collection agent of the company

Also, a $5 check paid to a vendor was erroneously recorded in the company books as $59.

1. Determine the adjusted cash ledger balance.

2. Determine the adjusted bank statement balance.

Reference no: EM131969820

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