The following information pertains to Wildhorse Company. 1. Cash balance per books, August 31, $7,424.
2. Cash balance per bank, August 31, $7,388.
3. Outstanding checks, August 31, $709.
4. August bank service charge not recorded by the depositor $61.
5. Deposits in transit, August 31, $3,760.

In addition, $3,076 collected for Wildhorse Company in August by the bank through electronic funds transfer. The accounts receivable collection has not been recorded Wildhorse Company.

Required:
Prepare a bank reconciliation at August 31, 2022

Adjusted cash balance per bank $10,439

Adjusted cash balance per book $10,439

Explanation:

Preparation of a bank reconciliation at August 31, 2022

Cash balance per bank statement $7,388

Add Deposit in transit $3,760

Less Outstanding check $709

Adjusted cash balance per bank $10,439

($7,388+$3,760-$709)

Cash balance per book $7,424

Add collection of electronic fund $3,076

Less bank service charge $61

Adjusted cash balance per book $10,439

($7,424+$3,076-$61)

the answer is true.  i do believe this is the answer because of the amount of wrecks people get into each year.  if you double this with avoiding those so said wrecks, that would make you a "skilled" driver.