Determine the true cash balance using bank reconciliation

Reference no: EM131764949

Question: The May 31, 2016, balance per bank statement for Upton Company was $7,200. The cash balance per books was $9,500. The following information is also available:

- Outstanding checks amounted to $800

- Deposits in transit were $2,400

- NSF check from customer for $500

- Service charge for $25

- Debit memo for direct payment of the telephone bill of $175?

Required: Prepare a bank reconciliation to determine the true cash balance at May 31, 2016.

Reference no: EM131764949

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