A company’s book balance shows $5,000. The bank statement shows $6,500. Outstanding checks total $1,800. A deposit in transit is $400. The bank collected a note receivable of $1,000 for the company. What is the adjusted cash balance ?
Wit... - Accounting Exit Exam Question And Solutions
A company’s book balance shows $5,000. The bank statement shows $6,500. Outstanding checks total $1,800. A deposit in transit is $400. The bank collected a note receivable of $1,000 for the company. What is the adjusted cash balance ?