Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. reduce its cash account by $485
Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. reduce its cash account by $485
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation:
Balance per bank
$17600
Outstanding checks
$3575
Deposits in transit
$5750
NSF check
$370
Bank service charges
$115
Cash balance per books
$20260
As a result of this reconciliation, Teal Mountain will
O reduce its cash account by $115.
O increase its cash account by $255.
O reduce its cash account by $2175.
reduce its cash account by $485.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0a8046fe-e24a-4307-8705-979cf615d784%2Ff2f38f89-c4e2-4513-8f38-bf7a960b84a5%2F2jcr5qi_processed.png&w=3840&q=75)
Transcribed Image Text:Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation:
Balance per bank
$17600
Outstanding checks
$3575
Deposits in transit
$5750
NSF check
$370
Bank service charges
$115
Cash balance per books
$20260
As a result of this reconciliation, Teal Mountain will
O reduce its cash account by $115.
O increase its cash account by $255.
O reduce its cash account by $2175.
reduce its cash account by $485.
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