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CHAPTERS 4 AND 6 i Saved Multiple Choice Help Save & Exit Pen Paint Company's unadjusted book balance at September 30 is $6,900. The Company's
CHAPTERS 4 AND 6 i Saved Multiple Choice Help Save & Exit Pen Paint Company's unadjusted book balance at September 30 is $6,900. The Company's bank statement reveals bank service charges of $50. Two credit memos are included in the bank statement: one for $700 which represents a collection of an account receivable that the bank made for Pen Paint and one for $100 which represents the amount of interest that Pen Paint had earned on its interest-bearing checking account in June. Finally, a comparison of the Company's records with the bank statement revealed $500 of deposits in transit and $300 of outstanding checks. Based on this information, Pen Paint's true cash balance is: Subm
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