Schwinn Company assembled the following information in completing its March bank reconciliation: $$\begin{array} { l r }
\text { Balance per bank } & \$ 12,224 \
\text { Outstanding checks } & \$ 2,480 \
\text { Deposits in transit } & \$ 4,000 \
\text { NSF check } & \$ 256 \
\text { Bank service charges } & \$ 80 \
\text { Cash balance per books } & \$ 14,080
\end{array}$$ As a result of this reconciliation, Schwinn will

Question

Schwinn Company assembled the following information in completing its March bank reconciliation: $$\begin{array} { l r } 
\text { Balance per bank } & \$ 12,224 \
\text { Outstanding checks } & \$ 2,480 \
\text { Deposits in transit } & \$ 4,000 \
\text { NSF check } & \$ 256 \
\text { Bank service charges } & \$ 80 \
\text { Cash balance per books } & \$ 14,080
\end{array}$$ As a result of this reconciliation, Schwinn will

Quizplus · Accepted Answer

The cash account should be reduced by the NSF check ($256) and the bank service charges ($80), totaling $336.

Schwinn Company Assembled the Following Information in Completing Its March