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Brangelina Adoption Agency’s general ledger shows a cash balance of $4,593. The balance of cash in the March-end bank statement is $7,345. A review of the bank statement reveals the following information: checks outstanding of $2,803, bank service fees of $85, and interest earned of $34. Calculate the correct balance of cash at the end of March.

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diegodaza79

Answer:

$4.542

Explanation:

Bank services fees must be included in  balance, as well as  interest earned, but checks outstanding no, because they arent paid yet.

So the correct calculation is:

$ 4.593 - $85 + $34 =  $4.542

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