Exercise 6-10a adjusting the cash account lo 6-3 [the following information applies to the questions displayed below.] as of june 30, year 1, the bank statement showed an ending balance of $19,500. the unadjusted cash account balance was $15,200. the following information is available: deposit in transit: $2,400. credit memo in bank statement for interest earned in june: $30. outstanding check: $6,690. debit memo for service charge: $20. determine the true cash balance by preparing a bank reconciliation as of june 30, 2016, using the preceding information.

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The preparation of the bank reconciliation statement on June 30 which reflect the true balance is presented in the spreadsheet. Kindly find the attachment below:  

answer; /// i believe the correct answer is first in, first out(fifo); //

answermeasured by how well she or he does the job'; /