Reference no: EM133122043
Question - For Mellark Inc., the company's cash account (per the books) as of December 31, 2021 shows a balance of $210,050 before the bank reconciliation is completed. On December 31, 2021 the company's bank account shows a balance of $264,000. The following information is available:
The bank statement shows a collection of $20,900 (the bank collected the note directly).
Deposits in Transit are $10,500
Outstanding checks are $42,600
A customer's check that was written for $5,200 was recorded on the books at $2,500.
An NSF check (shown on the bank statement) was returned for a customer in the amount of $1,750.
Required - What is the corrected ending cash balance?
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