Use the following data to answer the question presented below for Raines Corp's preparation of a bank reconciliation on October 31, 2014: Bank statement balance $30,700 Raines' book balance (before adjustments) ? Outstanding checks 4,200 NSF checks 400 Service charges 300 Deposits in transit 3,100 Interest earned on checking account 100 What is the net amount of the increase or decrease in
Raines' cash balance which must be recorded as a result of the adjustments identified by the bank reconciliation?
a. $100 decrease
b. $300 decrease
c. $400 decrease
d. $600 decrease
d
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