determing the true cash balance starting with the unadjusted bank balance the follow 731590
Determing the true cash balance, starting with the unadjusted bank balance
The following information is available for Sharder Company for the month of June:
1) The unadjusted balance per the bank statement on June 30 was $71,230.
2) Deposits in transit on June 30 were $2,350
3) A debit memo was included with the bank statement for a service charge of $25.
4) A $5,611 check written in June had no been paid by the bank.
5) The bank statement included a $930 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $30.
Required: Determine the true cash balance as of June 30.