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On September 30 the bank statement of Fine Company showed a balance of $7,650. The following information was revealed by comparing the bank statement to
On September 30 the bank statement of Fine Company showed a balance of $7,650. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: Deposits in transit amounted to $3,315 Outstanding checks amounted to $6,490 A $570 check was incorrectly drawn on Fine's account NSF checks returned by the bank were $790 . The bank service charge was $31 Credit memo for $85 for the collection of one of the company's account receivable What is the true cash balance? Multiple Choice $5,045 $5,099 15 of 35 Next > . The bank service charge was $31 Credit memo for $85 for the collection of one of the company's account rec What is the true cash balance? Multiple Choice $5,045 $5,099 O O $4,309 O $6,894
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