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Claybon Company deposits a cash receipts on the day they wereceived and makes a cash payments by check. At the close of business on My

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Claybon Company deposits a cash receipts on the day they wereceived and makes a cash payments by check. At the close of business on My Chaccount shows a debit balance of 50725 Chybor's Maybank statement shows $15.000 on deposit in the Bank Determine the cutece sing the following information Deposit in transit Outstanding check Bank service tees, not yet recorded by company A NET check from a customer, not yet recorded by the company 15.200 56,600 523 5400 The adjusted balance should be The adjusted cash balance should be: ok Multiple Choice $16,400 ces $11,200 $21,000 O $16,425 $17,000 Great Falls Co.'s bank reconciliation as of February 28 is shown below. Bank balance + Deposit in transit Outstanding checks Adjusted bank balance $37,643 2,950 -1,730 $38,863 Book balance Note collection Check printing Adjusted book balance $38,153 +745 -35 $38,863 One of the adjusting journal entries that Great Falls must record as a result of the bank reconciliation includes: Multiple Choice Debit Note Payable $745; credit Cash $745. Debit Cash $745; credit Note Receivable $745. Debit Cash $2,950; credit Sales $2.950. Debit Cash $2,950; credit Accounts Receivable $2,950. Debit Miscellaneous Expense $35; credit Accounts Payable $35

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