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A company's bank statement shows a cash balance of $4,250. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $4,280, deposits outstanding of $1,230, NSF check of $390, and service fee of $54. Calculate the correct balance of cash. Cash balance

A company's bank statement shows a cash balance of $4,250. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $4,280, deposits outstanding of $1,230, NSF check of $390, and service fee of $54. Calculate the correct balance of cash. Cash balance

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Help Save & A company's bank statement shows a cash balance of $4,250. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $4,280, deposits outstanding of $1,230, NSF check of $390, and service fee of $54. Calculate the correct balance of cash. Cash balance
Transcribed Image Text:Help Save & A company's bank statement shows a cash balance of $4,250. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $4,280, deposits outstanding of $1,230, NSF check of $390, and service fee of $54. Calculate the correct balance of cash. Cash balance
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