se the information below about Pax Corp. to answer the questions 8 and 9 Pax' Corp's 5/31/18 Cash T-account shows a balance of 83,000, and its bank statement dated 5/31/18 shows a balance of $87,000 According to the most recent bamk statement, Pax Corp, has not yet recorded bank fees of $400 and interest income of $300 . Pax Corp. has written $7,000 worth of checks that have not yet cleared the bank. . Pax Corp. bas deposits of $4,600 that do not yet appear on the bank statement Pax Corp. forgot to post the to the T-accounts the journal entry showing collection of cash from a customer. The journal entry that Pax Corp forgot to post was: Dr. Cash 1,700 and Cr. Accounts Receivable 1,700. On a bank reconciliation, which of the following reconciling items is SUBTRACTED from the bank balance to arrive at the adjusted Cash balance? 6. a Outstanding chocks b. NSF checks c. Service charges d. Deposits in transit. 7. The adjusted Cash balance on Pax Corp's 5/31/18 Bank Reconciliation should be: a. $83,000 b. $84,600 c $87,000 d $85,000 8. Maurice Cookie Company uses a periodic inventory system When Maurice employees count its inventory on June 30, 2018 (year end), they accidently forget to count one shelf of ingredients, resulting in June 2018 ending being understated by $8,000. statements Maurice employees count its June 30, 2019 inventory correctly. Which of the following s true related to Maurice Cookie Company's 2018 and 2019 financial statements? a. 2018 Cost of Goods Sold will be understated by $8,000. b. 2019 Beginning Inventory will be overstated by $8,000. c. 2019 Cost of Goods Sold will be understated by $8,000 s 2019 Net Income Sold will be properly stated D5W, lac, uses a psrpctual inventory system. After a sale of 5 pairs of sandails to a custorner, the customer retuns one pair. The journal entry that DSW records to show the sales return, will: 9. a increase Purchases and decrease Merchandise Inventory c. increase Merchandise Inventory and decrease Cost of Goods Sold d increase Cost of Goods Sold and decrease Parchases 10. Suppose thas Siemens sells a $2,000,000 MRI machine to a hospital. The hospital signs a promissory note that has the aanual interest rate of 7% and principal plus interest are due in 9 months. Assuming that the hapital following retnuts the nure payment to Siemens after 9 months, how much lnterest Income will Siemens report on this a, $11,667 b. $140,000 e. $15,555S d. $105,000