The May 31,2012,balance per bank statement for Upton Company was $7,200.The cash balance per books was $9,500.Outstanding checks amounted to $800,and deposits in transit were $2,400.The bank statement contained an NSF check for $500,a service charge for $25,and a debit memo for direct payment of the telephone bill of $175.
Required:
Prepare a bank reconciliation to determine the true cash balance at May 31,2012.

Question

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The Answer of The May 31,2012,balance per bank statement for Upton Company was $7,200.The cash balance per books was $9,500.Outstanding checks amounted to $800,and deposits in transit were $2,400.The bank statement contained an NSF check for $500,a service charge for $25,and a debit memo for direct payment of the telephone bill of $175.
Required:
Prepare a bank reconciliation to determine the true cash balance at May 31,2012.

The May 31,2012,balance Per Bank Statement for Upton Company Was