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A company's general ledger shows a cash balance of $4,590. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,860, bank service fees of $140, and interest earned of $28.

Calculate the correct balance of cash.

Respuesta :

Answer: $4,478

Explanation:

Given that,

Cash balance = $4,590

Checks outstanding = $2,860

Bank service fees = $140

Interest earned = $28

Correct balance of cash = Cash balance + Interest earned - Bank service fees

                                        =  $4,590 + $28 - $140

                                        = $4,478

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