The May bank statement for Tax Services shows a balance of $5,700, but the balance per books shows a cash balance of $7,200. Other information includes: 1. A check for $200 to pay the electric bill was recorded on the books as $30.
2) Included on the bank statement was a note collected by the bank for $440 plus interest of $20.
3) Checks outstanding totaled $270.
4) Bank service charges were $50.
5) Deposits in transit were $2,010.
Which item(s) should be subtracted from the balance per books?

Question

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The Answer of The May bank statement for Tax Services shows a balance of $5,700, but the balance per books shows a cash balance of $7,200. Other information includes: 1. A check for $200 to pay the electric bill was recorded on the books as $30.
2) Included on the bank statement was a note collected by the bank for $440 plus interest of $20.
3) Checks outstanding totaled $270.
4) Bank service charges were $50.
5) Deposits in transit were $2,010.
Which item(s) should be subtracted from the balance per books?

The May Bank Statement for Tax Services Shows a Balance