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1 3 points Nickleson Company had an unadjusted cash balance of $10,370 as of May 31. The company's bank statement, also dated May 31, included a $92 NSF check written by one of Nickleson's customers. There were $581 in outstanding checks and $260 in deposits in transit as of May 31. According to the bank statement, service charges were $95, and the bank collected a $650 note receivable for Nickleson. The bank statement also showed $8 of interest revenue earned by Nickleson. Required Determine the true cash balance as of May 31. (Hint: It is not necessary to use all of the preceding items to determine the true balance.) eBook Hint True cash balance References 2 As of June 30, 2018, the bank statement showed an ending balance of $17,497. The unadjusted Cash account balance was $15,778. The following information is available: 3 points 1. Deposit in transit, $2,200. 2. Credit memo in bank statement for interest earned in June, $20. 3. Outstanding check, $3,912. 4. Debit memo for service charge, $13. eBook Print References Required Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negative amounts should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/2018 True cash balance 6/30/2018 $ 0 Unadjusted book balance 6/30/2018 True cash balance 6/30/2018 $ 0 3 3 points Han's Supplies' bank statement contained a $370 NSF check that one of its customers had written to pay for supplies purchased. Required a. & c. Show the effects of the following transactions on the financial statements in the horizontal statements model. (a) Recognize the NSF check. (c) Customer redeems the check by giving Hans $390 cash in exchange for the bad check. The additional $20 was a service fee charged by Hans. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, and FA for financing activity. If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign.) Book Print References HAN'S SUPPLIES Horizontal Statements Model Event Assets Accounts Receivable Liabilities Equity Income Statement Expense Net Income Statement of Cash Flow Cash Revenue (a) (c) 3 3 points Book b. Is the recognition of the NSF check on Han's books an asset source, use, or exchange transaction? Print References Asset source Asset use Asset exchange d. Select which of the following is the correct answer. Asset exchange is $390, Asset source is $390 Asset use is $390. Asset exchange is $370 and Asset source is $20. Asset source is $370 and Asset use is $20. Asset exchange is $390 and Asset use is $20