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On September 30 the bank statement of Fine Company showed a balance of $14,050. The following information was revealed by comparing the bank statement
On September 30 the bank statement of Fine Company showed a balance of $14,050. The following information was revealed by comparing the bank statement to the cash balance in Fine's accounting records: Deposits in transit amounted to $5,715 Outstanding checks amounted to $10,170 A $810 check was incorrectly drawn on Fine's account NSF checks returned by the bank were $1,350 The bank service charge was $47 Credit memo for $205 for the collection of one of the company's account receivable What is the true cash balance? Multiple Choice $10,405 $10,598 $10,563 $9,213
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