3. Reconcile the following bank and book cash balances and do

necessary adjusting entries:

Bank balance $1,980 7/31/20; book balance 7/31/20

$1,967: NSF check S81;

Note collected by bank $190; interest collected by

bank on note $6; bank

service charge $4; outstanding checks $150 and

deposits outstanding $ 247.

4. Future value of a single value of $5,000. Factors to choose

1.262477 from luture

value table or 4.374616 from the annuity table.

Explain current ratio and inventory turnover