A company has a cash balance in their general ledger of "$4,000". On the bank statement they just received they see the following items: a note collected by the bank from their customer for $1,000 plus $40 in interest, bank service charges of $20 and a NSF check from a customer for $300. What should the CORRECT balance in the general ledger cash account be?

Current balance in the general ledger cash account is $5,320

Explanation:

                                                      General ledger

Opening balance                                $4,000

(Add)

A note collected by a customer         $1,000

interest collected by a customer            $40

NSF check from a customer                  $300.

                                                           ------------------

                                                              $5,340

(Less) bank service charges                     $20

                                                             ---------------

Balance in the general ledger

cash account is                                      $5,320

current balance in the ledger cash account =

( $4,000+ $1000+ $40+ $300- $20= $5320)

do u ahve any choices

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