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In preparing its bank reconciliation for the month of April 2010, Johnson, Inc. has available the following information. Balance per bank statement, 4/30/10 NSF check returned with April 2010 bank statement Deposits in transit, 4/30/10 Outstanding checks, 4/30/10 $ 30,140 450 4,000 5,200 20 Bank service charges for April What should be the "true cash balance" at April 30, 2010? A. $28,470 B. $31,340 C. $28,940 D. $30,870

In preparing its bank reconciliation for the month of April 2010, Johnson, Inc. has available the following information. Balance per bank statement, 4/30/10 NSF check returned with April 2010 bank statement Deposits in transit, 4/30/10 Outstanding checks, 4/30/10 $ 30,140 450 4,000 5,200 20 Bank service charges for April What should be the "true cash balance" at April 30, 2010? A. $28,470 B. $31,340 C. $28,940 D. $30,870

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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In preparing its bank reconciliation for the month of April 2010, Johnson, Inc. has available the following information. Balance per bank statement, 4/30/10 NSF check returned with April 2010 bank statement Deposits in transit, 4/30/10 Outstanding checks, 4/30/10 $ 30,140 450 4,000 5,200 20 Bank service charges for April What should be the "true cash balance" at April 30, 2010? A. $28,470 B. $31,340 C. $28,940 D. $30,870
Transcribed Image Text:In preparing its bank reconciliation for the month of April 2010, Johnson, Inc. has available the following information. Balance per bank statement, 4/30/10 NSF check returned with April 2010 bank statement Deposits in transit, 4/30/10 Outstanding checks, 4/30/10 $ 30,140 450 4,000 5,200 20 Bank service charges for April What should be the "true cash balance" at April 30, 2010? A. $28,470 B. $31,340 C. $28,940 D. $30,870
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