O Company assembled the following information in completing its March bank reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250; NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this reconciliation, O Company will Select one: a. reduce its cash account by $25. b. increase its cash account by $55. C. reduce its cash account by $105. d. reduce its cash account by $475.

O Company assembled the following information in completing its March bank reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250; NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this reconciliation, O Company will Select one: a. reduce its cash account by $25. b. increase its cash account by $55. C. reduce its cash account by $105. d. reduce its cash account by $475.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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