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Osborn Company's unadjusted book balance at June 30, 2014 is $9,000. The company's bank statement reveals bank service charges of $45. Two credit memos are
Osborn Company's unadjusted book balance at June 30, 2014 is $9,000. The company's bank statement reveals bank service charges of $45. Two credit memos are included in the bank statement: one for $1,080 which represents a collection of an account receivable that the bank made for Osborn and one for $10 which represents the amount of interest that Osborn had earned on its interest-bearing checking account in June. Based on this information, Osborn's true cash balance is:
$10,135.
$9,000.
$10,090.
$10,045.
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