At the end of the accounting year, December 31, 2004, a company had a petty cash fund balance of $600, a chequing account balance of $34,000 in Bank A, an overdraft of $800 with Bank B, and $4,000 in customer payments in the form of money orders Assuming no other differences between the company books and the bank balances, what cash amount should the company report on its 2004 balance sheet Select one A $38,800 B $37,800 C $37,200 D $38,600

Question

At the end of the accounting year, December 31, 2004, a company had a petty cash fund balance of $600, a chequing account balance of $34,000 in Bank A, an overdraft of $800 with Bank B, and $4,000 in customer payments in the form of money orders  Assuming no other differences between the company books and the bank balances, what cash amount should the company report on its 2004 balance sheet  Select one  A  $38,800 B  $37,800 C  $37,200 D  $38,600

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Question

At the end of the accounting year, December 31, 2004, a company had a petty cash fund balance of $600, a chequing account balance of

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