A bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, deposits in transit of $317, outstanding checks of $221, and NSF checks of $90. The correct cash balance is?

A. $1,479.

B. $1,490.

C. $1,580.

D. $1,777.

E. None of these.

The transactions in the journal and the accounts in the ledger are linked together by a transfer process called journalizing. True or False?

On January 7, Collin purchased supplies on account for $1,000, and recorded this purchase to the Supplies account. At the end of January, Collin had $600 of these supplies still on hand. The proper adjusting journal entry at January 31 would:

A. include a debit to Supplies for $1,000.

B. include a credit to Supplies for $400.

C. include a debit to Accounts Payable for $400.

D. include a debit to Supplies Expense for $600.

E. None of these.