Question
Beta Inc.'s bank statement shows a balance of $19,700 on November 30. The following additional information is available: Deposits of $3,400, representing cash receipts for
- Beta Inc.'s bank statement shows a balance of $19,700 on November 30. The following additional information is available:
Deposits of $3,400, representing cash receipts for sales in November, did not appear on the November bank statement.
Cheques totaling $2,900, representing cheques issued in November, did not appear on the November bank statement.
A cheque for $660 from a customer was returned by the bank and marked NSF on both the cheque and bank statement.
A cheque issued in November was recorded for $325, but the correct amount that cleared the bank account was $352.
Cash on hand is $350.
Based only on the information above, what is the correct cash balance that should be reported on Beta's balance sheet on November 30?
a.$19,513
b.$19,700
c.$19,863
d.$20,200
e.$20,550
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