The bank statement for Tetra Company contained the following items: a bank service charge of $50; a credit memo for interest earned, $55; and a $130 NSF check from a customer. The company had outstanding checks of $300 and a deposit in transit of $700.Assuming that the unadjusted bank balance was $1400, what is the unadjusted book balance?
A. $1275
B. $1800
C. $1925
D. $2100
Answer: C
You might also like to view...
An asset is a future economic benefit to a business
a. True b. False Indicate whether the statement is true or false
As long as the amount collected from credit sales to a given group of customers exceeds the cost of goods sold and the other costs of serving that group of customers, including the costs of _____ accounts, the retailer will be better off selling to that group rather than losing the sales
a. delinquent b. uncollectible c. collectible d. preferred e. common
A payment system that uses computerized electronic impulses to effect a cash transaction is called electronic funds transfer (EFT)
Indicate whether the statement is true or false
Airlines practicing code sharing is an example of _______.
What will be an ideal response?