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Please help 3?. A company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close
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3?. A company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, its Cash account shows a debit balance of $60,209. The company's June bank statement shows $58,349 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit $ 3,800 Outstanding checks $ 1,925 Check printing fee, not yet recorded by company $ 15 Interest earned on account, not yet recorded by the company $ 30 A. Using the abOve information, prepare the bank reconciliation in good form: B. The adjusted cash balance in the general ledger should be: a. $60,194 b. $60,239 c . $62 , 149 {1. $56,424 e. $60,224 38. Separate accounts receivable information for each customer is important because it reveals all of the following except: a. How much each customer has purchased on credit. 1:). How much each customer has paid. c. How much each customer still owes. d The basis for sending bills to customers. e When the customer intends to pay outstanding balances. 39. A promissory note received by a company from a customer in exchange for an account receivable is recorded by the company as: a. A cash equivalent. b. An account receivable. c. A note receivable. d. A short-term investment. e. A note payable. 40. Reporting the details of promissory notes is consistent with which accounting principle that requires nancial statements (including footnotes) to report all relevant information? a. Relevance. b. Full disclosure. c. Evaluation. d. MaterialityStep by Step Solution
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