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The following information was taken from a company's bank reconciliation at the end of the year: Bank balance Checks outstanding Note collected by the bank Service fee Deposits outstanding NSF check from a customer What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice O $7,400 $6,160 $ 8,000 5,800 1,500 20 4,000 300 $10,200

The following information was taken from a company's bank reconciliation at the end of the year: Bank balance Checks outstanding Note collected by the bank Service fee Deposits outstanding NSF check from a customer What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice O $7,400 $6,160 $ 8,000 5,800 1,500 20 4,000 300 $10,200

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
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The following information was taken from a company's bank reconciliation at the end of the year: Bank balance Checks outstanding Note collected by the bank Service fee Deposits outstanding NSF check from a customer What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice O $7,400 $6,160 $ 8,000 5,800 1,500 20 4,000 300 $10,200
Transcribed Image Text:The following information was taken from a company's bank reconciliation at the end of the year: Bank balance Checks outstanding Note collected by the bank Service fee Deposits outstanding NSF check from a customer What is the correct cash balance that should be reported in the company's balance sheet at the end of the year? Multiple Choice O $7,400 $6,160 $ 8,000 5,800 1,500 20 4,000 300 $10,200
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