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lozanna [386]
3 years ago
8

Determining the true cash balance, starting with the unadjusted book balance

Business
1 answer:
Law Incorporation [45]3 years ago
3 0

Answer:

True Cash Balance $7,688

Explanation:

The computation of the true cash balance is shown below:

Unadjusted Cash Balance as of May 31 $7,176

Add: Interest Earned   $14

Note Collected by Bank $600

Less: NSF check ($67)

Less Bank charges ($35)

True Cash Balance $7,688

Hence, the true cash balance is $7,688 and the same is to be considered

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