Athens, Inc.'s June bank statement shows a June 30 balance of $36,200. Prior to reconciliation, its books show a cash balance of $36,840. The information below pertains to Athens:

The reconciled cash balance at June 30 on the bank reconciliation should be:

Question

Athens, Inc.'s June bank statement shows a June 30 balance of $36,200. Prior to reconciliation, its books show a cash balance of $36,840. The information below pertains to Athens:

The reconciled cash balance at June 30 on the bank reconciliation should be:

Quizplus · Accepted Answer

$36,200 balance per bank statement + $2,800 deposits in transit - $1,920 outstanding checks + $1,000 bank error correction = $38,080.
$36,840 balance per books - $80 service charge + $360 company error correction + $960 collection of note receivable and interest income = $38,080.