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Pink Co.s unadjusted book balance as of June 30, Year 1, was $5,000. This balance differs from Pink Co.s true cash balance because of four
Pink Co.s unadjusted book balance as of June 30, Year 1, was $5,000. This balance differs from Pink Co.s true cash balance because of four unrecorded accounting events: the bank collected a $1,000 account receivable for Pink Co.; Pink Co.s accountant made a $40 recording error; the bank charged Pink Co. an $10 service fee; Pink Co. had deposited a $300 check from a customer who did not have sufficient funds to cover the check. Which of the following is Pink Co.s true cash balance?
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