The following information was taken from a company's bank reconciliation at the end of the year: Bank balance Checks outstanding Note collected by the bank Service fee Deposits outstanding NSF check from a customer What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice O $7,400 $6,160 $ 8,000 5,800 1,500 20 4,000 300 $10,200

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.