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. On September 30 the bank statement of Fine Company showed a balance of $12,100. The following information was revealed by comparing the bank statement
. On September 30 the bank statement of Fine Company showed a balance of $12,100. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: Deposits in transit amounted to $4,950 Outstanding checks amounted to $8,960 A $730 check was incorrectly drawn on Fine's account NSF checks returned by the bank were $1,170 . The bank service charge was $41 Credit memo for $165 for the collection of one of the company's account receivable What is the true cash balance? Multiple Choice $8,820 $8.944 $7274 What is the true cash balance? Multiple Choice $8,820 $8.944 $7774 O. $9.374
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