Question
The Cash account in the ledger of Hensley, Inc. showed a balance of $5,500 at June 30. The bank statement, however, showed a balance of
The Cash account in the ledger of Hensley, Inc. showed a balance of $5,500 at June 30. The bank statement, however, showed a balance of $9,500 at the same date. The only reconciling items consisted of a $1,150 deposit in transit, a bank service charge of $19, and a large number of outstanding checks.
What is the "adjusted cash balance" at June 30?
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Microeconomics Theory And Applications
Authors: Edgar K. Browning, Mark A. Zupan
10th Edition
0470128917, 9780470128916
