9. IMQ Limited gathered the following reconciling information in preparing its June bank reconciliation: Cash balance per books, September 30 $12,000 Electronic collection of account 6,000 Outstanding cheques 9,000 Deposits in transit 4,500 Bank service charge 75 NSF Cheque 1.200 The adjusted cash balance per books at September 30 is: a. $8,775. b. $12,000. c. $16.500. d. $16.725. 10. When is revenue recognized under the percentage of completion method? a. When construction begins on the project. b. When the project is complete. c. Throughout the project, based upon the amount of work completed each year. d. Throughout the project, based upon the amount of cash received from the customer