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Use the following data for question 1 and 2: Quincy Company's bank statement at statement at January 31 shows a balance of $13,360, while the
Use the following data for question 1 and 2: Quincy Company's bank statement at statement at January 31 shows a balance of $13,360, while the lodger account for Cash in Quincy's ledger shows a balance of $12.890 at the same date. The only reconciling items are the following: Deposit in transit, $890. Bank Service charge, $24. NSF check from customer Greg Denton in the amount of $426. Error in rccording check no. 389 for rent: check was written in the amount of $1,320 but was recorded improperly in the accounting records as $1,230 Outstanding checks, S? 1. What is the total amount of outstanding checks at January 31? (2 points) A $1,048 B. $868 C. $1,900 D. $1,720 E. None of the above, 2. Assuming a single journal entry is made to adjust Quincy Company's accounting records at January 31, the journal entry includes: (1 point) A. A debit to Rent Expense for $90, B. Acredit to Accounts Receivable, G. Denton, for $426. C. A credit to Cash for S450. D. A credit to Cash for $1,720 E. None of the above 1 2
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