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AI March 31, Cummins Company had a balance in its cash account of $10.500. At the end of March, the company determined that it had outstanding checks of $1,130, deposits in transit of $700, a bank service charge of $40, and an NSF check from a customer for $225. The true cash balance at March 31 is: Multiple Choice $10,235 $10,500 $9.700 S10,070

AI March 31, Cummins Company had a balance in its cash account of $10.500. At the end of March, the company determined that it had outstanding checks of $1,130, deposits in transit of $700, a bank service charge of $40, and an NSF check from a customer for $225. The true cash balance at March 31 is: Multiple Choice $10,235 $10,500 $9.700 S10,070

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At March 31, Cummins Company had a balance in its cash account of $10,500. At the end of March, the company determined that it had outstanding checks of $1,130, deposits in transit of $700, a bank service charge of $40. and an NSF check ftrom a customer for $225. The true cash balance at March 31 is: Multiple Choice $10,235 $10,500 $9.700 $10,070
Transcribed Image Text:At March 31, Cummins Company had a balance in its cash account of $10,500. At the end of March, the company determined that it had outstanding checks of $1,130, deposits in transit of $700, a bank service charge of $40. and an NSF check ftrom a customer for $225. The true cash balance at March 31 is: Multiple Choice $10,235 $10,500 $9.700 $10,070
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