Question
On October 31, 2015, the bank statement shows that your company has $14,556.73 in its checking account. You are aware of three outstanding checks for
On October 31, 2015, the bank statement shows that your company has $14,556.73 in its checking account. You are aware of three outstanding checks for a total of $4,512.19. During October, 2015, the bank rejected two deposited checks from customers totaling $ 1,054.19 because of insufficient funds and charged you $44.00 in service fees. You had not yet received notice about the bad checks, but you were aware of and have recorded the $44.00 of service fees. Prior to adjustment on October 31, 2015, your Cash account would have a balance of:
A $17,970.73.
B $20,079.11
C $9,034.35.
D $11,098.73.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started