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The bank statement balance of $8,500 does not include a check outstanding of $1,200, a deposit in transit of $300, and another company's $200 check erroneously charged against your firm's account. The reconciled bank balance is: a. $8,500 b. $7,800 c. $8,600 d. $8,500

The bank statement balance of $8,500 does not include a check outstanding of $1,200, a deposit in transit of $300, and another company's $200 check erroneously charged against your firm's account. The reconciled bank balance is: a. $8,500 b. $7,800 c. $8,600 d. $8,500

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 2CE
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The bank statement balance of $8,500 does not include a check outstanding of $1,200, a deposit in transit of $300, and another company's $200 check erroneously charged against your firm's account. The reconciled bank balance is: a. $8,500 b. $7,800 c. $8,600 d. $8,500
Transcribed Image Text:The bank statement balance of $8,500 does not include a check outstanding of $1,200, a deposit in transit of $300, and another company's $200 check erroneously charged against your firm's account. The reconciled bank balance is: a. $8,500 b. $7,800 c. $8,600 d. $8,500
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