The cash account shows a balance of $45,000 before reconciliation. The bank statement does not include a deposit of $2,300 made on the last day of the month. The bank statement shows a collection by the bank of $940 and a customer's check for $320 was returned because it was NSF. A customer's check for $450 was recorded on the books as $540, and a check written for $79 was recorded as $97. The correct balance in the cash account was: a. $45,512 b. $45,548 c. $45,728 d. $45,848
The cash account shows a balance of $45,000 before reconciliation. The bank statement does not include a deposit of $2,300 made on the last day of the month. The bank statement shows a collection by the bank of $940 and a customer's check for $320 was returned because it was NSF. A customer's check for $450 was recorded on the books as $540, and a check written for $79 was recorded as $97. The correct balance in the cash account was: a. $45,512 b. $45,548 c. $45,728 d. $45,848
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The cash account shows a balance of $45,000 before reconciliation.
The bank statement does not include a deposit of $2,300 made on the
last day of the month. The bank statement shows a collection by the
bank of $940 and a customer's check for $320 was returned because it
was NSF. A customer's check for $450 was recorded on the books as
$540, and a check written for $79 was recorded as $97. The correct
balance in the cash account was:
a. $45,512
b. $45,548
c. $45,728
d. $45,848
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