Question
Angel Companys unadjusted bank balance at July 31 is $3,000. The bank reconciliation revealed outstanding checks of $1,500 and deposits in transit of $2,000. There
Angel Companys unadjusted bank balance at July 31 is $3,000. The bank reconciliation revealed outstanding checks of $1,500 and deposits in transit of $2,000. There was a NSF check from a customer of Angel's in the amount of $500 reported on the bank statement on July 15th. Based on this information, their true cash balance is:
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Proli Footwear Inc An Audit And Fraud Simulation For Team-Based Student Learning
Authors: Patricia Poli, Richard Proctor
2nd Edition
0615455492, 978-0615455495
