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sesenic [268]
3 years ago
11

Rainey Company's true cash balance at October 31 is $5,710. The following information is available for the bank reconciliation:

Business
1 answer:
photoshop1234 [79]3 years ago
3 0

Answer:

$5,400

Explanation:

We are given the cash balance per books and we are told to determine the cash balance per bank. The following formula is used to calculate the cash balance per book:

cash balance per books = cash balance per bank + notes receivable collected by bank  -  bank service charge -  NSF check

$5,710 = cash balance per bank + $1,000 - $90 - $600

cash balance per bank = $5,710 + $90 + $600 - $1,000 = $5,400

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