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As of June 30, Year 1, the bank statement showed an ending balance of $16,545....

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Accounting

As of June 30, Year 1, the bank statement showed an ending balance of $16,545. The unadjusted Cash account balance was $16,028. The following information is available:

  1. Deposit in transit, $2,630.
  2. Credit memo in bank statement for interest earned in June: $24.
  3. Outstanding check: $3,128.
  4. Debit memo for service charge: $5.

Required:

Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding information.

Note: Negative amounts should be indicated with a minus sign.

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