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bezimeni [28]
3 years ago
13

Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $19,200. The bank reconciliation for the period showe

d an adjustment for a deposit in transit of $1,850, outstanding checks of $2,700, a NSF check of $1,400, bank service charges of $65 and the EFT from a customer in payment of the customer's account of $2,200. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)
Business
1 answer:
Musya8 [376]3 years ago
8 0

Answer:

the cash balance is $17,615

Explanation:

The computation of the cash balance before the adjustment is shown below:

= Ending cash balance + deposit in transit - oustanding checks + NSF + bank service charges - payment

= $19,200 + $1,850 - $2,700 + $1,400 + $65 - $2,200

= $17,615

hence, the cash balance is $17,615

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8 0
3 years ago
Kurt's entertainment has a receivables turnover rate of 14.8, a payables turnover rate of 10.4 and an inventory turnover rate of
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