Answer:
$56,552
Explanation:
A month-end bank statement shows a balance of $52,000, outstanding checks of $8,000, an intransit deposit of $3,500, and a deduction error of $25 made by the bank against the account.
The correct balance in the bank account at month end will be:
Balance as per bank statement....$52,000
Add: Outstanding Checks................$8,000
less: In transit deposit......................($3,500)
Add back: Deduction in error.................$52
Correct balance in bank account $56,552
