Financial Accounting

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Solve For Corrected Book Balance on the Bank Reconciliation


The bank reconciliation for March is shown below along with the bank activity from the April bank statement.

Bank Reconciliation For March and Data for April, Year 6
Balance per bank statement, March 31 Year 6 \$37,200
Add: Deposit in Transit \$6,200
Less: Outstanding Checks \$7,600
Corrected Cash, March 31 Year 6........................................ \$35,800
Data per bank for Month of April Year 6:
Deposits \$47,600
Disbursements \$47,900

All the outstanding checks from March cleared and \$7,000 in checks were outstanding at the end of April. The deposit in transit on the March bank reconciliation cleared in April and there are no deposits in transit at the end of April. What is the correct cash balance to be reported on the books at the end of April Year 6?