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QUESTION 1 Maroon, Inc. received its bank statement from Second National Bank for the month...

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Accounting

QUESTION 1 Maroon, Inc. received its bank statement from Second National Bank for the month ending Oct. 31, 2017. Per the bank statement the balance in Maroons account totaled $8,875. The accountants for Maroon noted that the following items needed to be reconciled: A check written by Maroon for $311, was posted in their General Ledger as $11. Checks written by Maroon that have not yet cleared the bank amounted to $1,618. A deposit of $52 made by the Macaroni Company was credited to the bank account of Maroon, Inc. The bank issued Maroon a debit memo for bank service charges for the month totaling $35. Maroon deposited a check into their bank account at 3:15 p.m. on Oct. 31, 2014 after the bank had already cut-off activity to prepare the bank statement. The deposit totaled $520. During the month of October, Maroon received interest on its checking account of $10. The bank statement included overdraft charges of $98. Determine the balance in Maroons General Ledger prior to the reconciliation. A. $8,182 B. $7,478 C. $8,078 D. $8,148 E. $8,252

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