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Posted by on Sunday, September 30, 2012 at 2:11pm.

While preparing the February 28th bank reconciliation for the checking account for Willow, Inc., the accountant identified the following items:

Willow's balance according to the general ledger $46,200
Outstanding checks $1,100
Interest earned on the checking account $50
A customer's NSF check returned by the bank $500

In addition, Willow made an error in recording a customer's check; the amount was recorded in cash receipts as $150, while the bank correctly recorded the amount as $510. What amount will Willow report as its adjusted cash balance on February 28th?

1. $46,250
2. $45,890
3. $44,650
4. $46,110

  • Math - , Thursday, February 28, 2013 at 10:07pm


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