At March 31, Cummins Co. had an unadjusted balance in its cash account of $10,400. At...
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At March 31, Cummins Co. had an unadjusted balance in its cash account of $10,400. At the end of March, the company determined that it had outstanding checks of $900, deposits in transit of $600, a bank service charge of $20, and an NSF check from a customer for $200. What is the true cash balance at March 317 $10,100 OA. $10,180 B. $10,380 $9,880 D. Which of the following describes an item/activity that reduces a company's bank account balance? A deposit in transit OA. A debit merno B. A credit memo OC. A reconciling entry At March 31, Cummins Co. had an unadjusted balance in its cash account of $10,400. At the end of March, the company determined that it had outstanding checks of $900, deposits in transit of $600, a bank service charge of $20, and an NSF check from a customer for $200. What is the true cash balance at March 317 $10,100 OA. $10,180 B. $10,380 $9,880 D. Which of the following describes an item/activity that reduces a company's bank account balance? A deposit in transit OA. A debit merno B. A credit memo OC. A reconciling entry
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We have to adjust the Cash ledger for the information that was with ... View the full answer
Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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