a companys own cash records show a balance of $3,200. after examining the bank statement, the following…

a companys own cash records show a balance of $3,200. after examining the bank statement, the following information is revealed: bank’s balance for cash $4,000 deposits outstanding $2,300 nsf check $600 checks outstanding $1,800 note collected by the bank $2,000 service fee charged by the bank $100 after reconciliation, the correct balance of cash is: multiple choice $3,700 $3,400 $4,500 $4,800

a companys own cash records show a balance of $3,200. after examining the bank statement, the following information is revealed: bank’s balance for cash $4,000 deposits outstanding $2,300 nsf check $600 checks outstanding $1,800 note collected by the bank $2,000 service fee charged by the bank $100 after reconciliation, the correct balance of cash is: multiple choice $3,700 $3,400 $4,500 $4,800

Answer

Explanation:

Step1: Adjust company's cash records

Add note collected, subtract NSF check and service fee. $3200 + 2000-600 - 100$

Step2: Calculate the result

$3200+2000 - 600-100=4500$

Step3: Check bank - side reconciliation (optional verification)

Adjust bank balance with deposits and checks outstanding. $4000+2300 - 1800=4500$

Answer:

$4500$