abc general accounting Marlon, Inc., reported a balance of $143 in its cash account atthe end of the month There were $120 of deposits in transit and$115 of checks outstanding The bank statement showed abalance of $150, service charges of $6, and the collection of anote plus interest The note had a face value of $15. How muchinterest did the bank collect for the company?a. $18b. $ 3c. $24d. $12

Step 1: Adjusted bank balance.= unadjusted balance per bank statement + deposits in transit - checks…

Answered: Marlon, Inc., reported a balance of…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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How much interest did the bank collect for the company ?
How much interest did the bank collect for the company ? General accounting
Marlon, Inc., reported a balance of $133 in its cash account at the end of the month. There were $120 of deposits in transit and $105 of checks outstanding. The bank statement showed a balance of $140, service charges of $7, and the collection of a note plus interest. The note had a face value of $25. How much interest did the bank collect for the company? a. $4 b. $3 c. $24 d. $12
Marlon, Inc. reported a balance of $143 ub uts cash account at the end of the month. There were $120 of deposits in transit and $115 of checks outstanding. The bank statement showed a balance of $150, service charges of $6, and the collection of a note plus interest. The note had a face value of $15. How much interest did the bank collect for the company? a. $18 b. $3 c. $24 d. $12
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COMPANY A, reported a balance of ₱ 45,000.00 in its Cash account at the end of the month. There were ₱ 20,000.00 deposits in transit and ₱ 15,000.00 outstanding checks. The bank statement showed a balance of ₱ 65,000.00 including a note with face value of ₱ 25,000.00 and a ₱ 5,000.00 service charge. How much is the interest on the note collected by the bank?
Company's Balance Sheet
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