While preparing the bank reconciliation for Tran's cheque account for 28 February the account identified the following
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Question:
While preparing the bank reconciliation for Tran's cheque account for 28 February the account identified the following items:
Tran's balance according to the general ledger $46,200
Outstanding cheques $1,100
Interest earned on the cheque account $50
A customer's NSF cheque returned by the bank $500
In addition, Tran made an error in recording a customer's cheque collection, the amount was recorded in cash receipts as $150, while the back correctly recorded the amount as $510. What amount will Tran report as its actual cash balance om 28 February?
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