Multiple Choice
The bank statement reported an ending balance of $43,860 after deducting $660 in service charges and an addition of $13,500 for a note collected by the bank on the Cherokee Company's behalf. The company books reported an ending balance of $29,070, and determined that deposits in transit equal $16,800 and outstanding checks equal $18,750.
What is the adjusted cash balance?
A) $41,910
B) $16,800
C) $35,910
D) $21,120
Correct Answer:
Verified
Correct Answer:
Verified
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