Question
Somerset Company's Cash account shows an ending balance of $ 750. The bank statement shows a $10 service charge and an NSF check for $110.
Somerset Company's Cash account shows an ending balance of $ 750. The bank statement shows a $10 service charge and an NSF check for $110. A $270 deposit is in transit, and outstanding checks total $450. What is Somerset's adjusted cash balance?
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College Accounting Chapters 1-9
Authors: James Heintz
22nd Edition
1305888537, 978-1305666184
