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At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank

At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.3BE
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Brief Exercise 8-13 At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank
Transcribed Image Text:Brief Exercise 8-13 At July 31, Lily Company has the following bank information: cash balance per bank $7,490, outstanding checks $712, deposits in transit $1,561, and a bank service charge $30. Determine the adjusted cash balance per bank at July 31. Adjusted cash balance per bank
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