XYZ Company's bank statement shows an ending balance of $20,000. However, the company's records show an ending balance of $18,500. After comparing the two, XYZ Company found that the bank had deducted a $1,500 service charge, and had deposited $2,000 for a customer's payment directly into the company's account. What is the adjusted balance per the company's records?

XYZ Company's bank statement shows an ending balance of $20,000. However, the company's records show an ending balance of $18,500. After comparing the two, XYZ Company found that the bank had deducted a $1,500 service charge, and had deposited $2,000 for a customer's payment directly into the company's account. What is the adjusted balance per the company's records?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 3E

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