USE THE FOLLOWING INFORMATION FOR QUESTIONS 9 - 10.

On November 30, Three Company reported a cash balance in the general ledger of $45,700.The bank statement from First National Bank on November 30 showed the following information.

Balance, November 1

$40,000

Deposits

120,000

Withdrawals

(115,000)

Service charge

(20)

NSF check

(1,180)

Balance, November 30

$43,800

An analysis of the deposits and withdrawals revealed the following.

• The deposits included a payment on a note receivable collected by First National Bank for Three Company in the amount of $5,000. The amount includes principal of $4,800 and interest of $200.Three Company has not recorded the transaction.
• The withdrawals included an automated payment of $6,000 made by First National Bank for Three Company to a supplier for the purchase of merchandise on account. Three Company has not recorded the transaction.
• A deposit for $1,000 was incorrectly recorded by the bank as a deposit for $1,100.
• A check for employee wages in the amount of $700 was correctly recorded by the bank but incorrectly recorded by Three Company for $400.
• Checks in the amount of $2,500 and deposits in the amount of $2,000 were still outstanding on November 30.

What is the true cash balance?

Group of answer choices

$45,700

$43,200

$45,700

$43,800

The correct journal entry to record the payment on the note receivable would include...

Group of answer choices

A debit to interest revenue for $200

A debit to cash for $5,000

A debit to cash for $4,800

A credit to note receivable for $5,000