Business, 21.12.2019 06:31 explained1256
Jimmy company’s cash balance at the end of the month was $8,500. after comparing the company’s records with the monthly bank statement, carla’s accountant identified the following reconciling items: outstanding checks, $800; deposits in transit, $700; bank service charge, $30; nsf check, $500. what is the adjusted cash balance?
a) $6,600
b) $6,370
c) $7,970
d) the adjusted cash balance cannot be determined from this information.
Answers: 3
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Business, 22.06.2019 17:10
At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)
Answers: 3
Jimmy company’s cash balance at the end of the month was $8,500. after comparing the company’s recor...
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