1. Eversoll Inc. uses the periodic inventory system.

June 1 On hand, 50 units @ $15.00 each $750.00 5 Purchased 115 units @ $15.10 each 1,736.50 14 Purchased 75 units @ $15.20 each 1,140.00 Total cost of goods available for sale $3,626.50 30 On hand, 90 units

How many units did Eversoll, Inc. sell during June? a. 90 b. 50 c. 100 d. 150

2. If a credit memo appears on a bank reconciliation, this could be an indication that: a. there has been a bank service charge. b. there has been a decrease the company's bank account. c. there has been a note receivable for the company that was collected by the bank. d. there has been a deposit of a customer's NSF check.

3. Which one of the following documents is used in the control of cash disbursements? a. Bank deposit slips b. Cash register tapes c. Receiving reports d. Income Statement