10. Prepare a bank reconciliation: ABC Enterprises gathered the following information prior to reconciling their cash balance per books (internal accounting records) to the recently received bank statement for the month ending January 31, 2018: Cash per balance per books, 1/31/18 Deposits in transit NSF check Bank services charges Outstanding checks Notes Receivable collected by the bank S 1,000 Cash balance per bank, 1/31/18 $7,500 S 500 50 000'9 S $11,950 Perform the bank reconciliation: The ADJUSTED CASH BALANCE PER BOOK as of January 31, 2018: A)$7,950 B)$7,500 C)$6,950 D)$3,500 11. Consider the purpose of the bank reconciliation: Which of the following timing differences identified as part of the bank reconciliation process would be recorded in the company's accounting system: A) Deposits in Transit B) Bank Service Charges C) Outstanding Checks D) A) and C) Only None of the above 12. Accountant's define and understand ACCOUNTS RECEIVABLES: A) To be claims from individuals and companies that are expected to be collected in cash. B) To include accounts receivables, notes receivables and other receivables. C) To be shown on the balance sheet valued at its cash net realizable value. D) A and B only E) All of the above represent characteristics of receivables. 13. True or False: Both accounts receivable balances and note receivable balances are created when a sale is made to a customer and both charge interest. A) True B) False