Question

The following information is for Michael's Logistics Company:

1. Cash balance per bank, July 31, $7.140.
2. July bank service charge not recorded by the depositor, $44
3. Cash balance per books, July 31, 57.380
4. Deposits in transit. July 31, $1.310.
5. Bank collected $600 note for Michael's in July, plus interest $35, less fee $21. 6. The collection has not been recorded by Michael's, and no interest has been accrued
Outstanding cheques, July 31, $500

Answer 1

The subject of this question is Business and the grade level is College. The provided information is about the cash balance of Michael's Logistics Company and requires analyzing and reconciling the cash balance per bank and per books.

Step-by-step explanation:

In this question, the subject is Business and the grade level is College. The question provides information about Michael's Logistics Company's cash balance per bank, bank service charge, cash balance per books, deposits in transit, bank collection, outstanding cheques, and more.

To answer the question accurately, the provided information should be analyzed to determine the correct adjustments to be made in order to reconcile the cash balance per bank and the cash balance per books. This information is relevant to business accounting and financial management.