QUESTION 12 A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the adjusted bank balance? O A. $60,850 OB. $69,350 O C. $72,250 O D. $70,850
QUESTION 12 A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of $8,500. What is the adjusted bank balance? O A. $60,850 OB. $69,350 O C. $72,250 O D. $70,850
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Question 12
 alt="O A. The bank collected a note receivable of $1,000 for the business.
O B. The bank charged a service fee of $20 on the bank statement.
O C.A nonsufficient funds check of $75 was returned to the bank and deducted from the bank balance.
O D. A deposit was in transit and not yet deposited in the bank.
QUESTION 12
A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of
$8,500. What is the adjusted bank balance?
O A. $60,850
O B. $69,350
OC. $72,250
O D. $70,850
QUESTION 13
4 pc
Which of the following are two methods of recording uncollectible receivables?
O A. The aross-up method and the direct write-off method
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Transcribed Image Text:O A. The bank collected a note receivable of $1,000 for the business.
O B. The bank charged a service fee of $20 on the bank statement.
O C.A nonsufficient funds check of $75 was returned to the bank and deducted from the bank balance.
O D. A deposit was in transit and not yet deposited in the bank.
QUESTION 12
A company received a bank statement showing a balance of $62,300. Reconciling items were outstanding checks of $1,450 and a deposit in transit of
$8,500. What is the adjusted bank balance?
O A. $60,850
O B. $69,350
OC. $72,250
O D. $70,850
QUESTION 13
4 pc
Which of the following are two methods of recording uncollectible receivables?
O A. The aross-up method and the direct write-off method
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Save All Answers
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