The bank statement reported an ending balance of $43,860 after deducting $660 in service charges and an addition of $13,500 for a note collected by the bank on the Cherokee Company's behalf. The company books reported an ending balance of $29,070, and determined that deposits in transit equal $16,800 and outstanding checks equal $18,750. What is the adjusted cash balance?

Select one:

A. $21,120

B. $41,910

C. $16,800

D. $35,910

Lakeside Company is holding a $18,000, 90-day, 6% note receivable, dated December 1, 2019. The journal entry to record accrued interest at the end of its fiscal year on December 31, 2019 will include a:

Select one:

A. Credit note receivable for $18,000

B. Credit interest income for $270

C. Debit to interest receivable for $90

D. Debit cash for $18,270