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Emphatic Company provided the following data at the current month-end: Balance per book 4,000,000 Bank charges 10,000 Outstanding checks 950,000 Deposit in transit 1,200,000 Customer
Emphatic Company provided the following data at the current month-end: Balance per book 4,000,000 Bank charges 10,000 Outstanding checks 950,000 Deposit in transit 1,200,000 Customer note collected by bank 1,500,000 Interest on customer note 60,000 Customer check returned NSF(insufficient fund) 250,000 Payment of depositor note payable charged to account 1,000,000 What is the adjusted cash in bank? a. 4,300,000 b. 5,300,000 c. 4,250,000 d. 4,000,000
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