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What is the correct cash balance for the company? O $7,150. O $7,650. O $7,250. O $5,150.

What is the correct cash balance for the company? O $7,150. O $7,650. O $7,250. O $5,150.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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8 .The following information pertains to a company's cash balance and bank reconcilation as of August 31
The following information pertains to a company's cash balance and bank reconcillation as of August 31: Company balance before reconcillation $5,000 Checks outstanding $2,500 Notes collected by the bank $2,200 Service fee $50 $2,000 Deposits outstanding What is the correct cash balance for the company? O $7,150. O $7,650. O $7,250. O $5,150.
Transcribed Image Text:The following information pertains to a company's cash balance and bank reconcillation as of August 31: Company balance before reconcillation $5,000 Checks outstanding $2,500 Notes collected by the bank $2,200 Service fee $50 $2,000 Deposits outstanding What is the correct cash balance for the company? O $7,150. O $7,650. O $7,250. O $5,150.
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