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Sam Company prepared the following bank reconciliation on November 30:

Balance per Bank Statement 2,100,000
Deposits outstanding 300,000
Checks outstanding ( 30,000 )
Correct cash balance 2,370,000
Balance per book 2,372,000
Bank service charge ( 2,000 )
Correct cash balance 2,370,000
December Data are as follows: Bank Book
Checks recorded 2,300,000 2,360,000
Deposit recorded 1,620,000 1,800,000
Collection by bank 400,000 note receivable plus interest 420,000 -
NSF customer check returned 10,000
Balances 1,830,000 1,810,000


1. What is the amount of checks outstanding on December 31?
a. 30,000
b. 90,000
c. 60,000
d. 0

2. What is the amount of deposits in transit on December 31?
a. 480,000
b. 120,000
c. 180,000
d. 680,000

3. What is the adjusted cash in bank on December 31?
a. 1,180,000
b. 2,220,000
c. 2,240,000
d. 2,780,000

Answer: Step-by-step explanation:Yes
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