owen companys unadjusted book balance at june 30 is $9700. the companys bank statement reveals bank service…

owen companys unadjusted book balance at june 30 is $9700. the companys bank statement reveals bank service charges of $45. two credit memos are included in the bank statement: one for $900, which represents a collection that the bank made for owen, and one for $50, which represents the amount of interest that owen had earned on its interest - bearing account in june. based on this information, owens true cash balance is: multiple choice $10550 $10595 $9700 $10605

owen companys unadjusted book balance at june 30 is $9700. the companys bank statement reveals bank service charges of $45. two credit memos are included in the bank statement: one for $900, which represents a collection that the bank made for owen, and one for $50, which represents the amount of interest that owen had earned on its interest - bearing account in june. based on this information, owens true cash balance is: multiple choice $10550 $10595 $9700 $10605

Answer

Explanation:

Step1: Start with unadjusted balance

The unadjusted book balance is $9700.

Step2: Subtract service charges

Bank service charges of $45 should be subtracted. So, $9700 - 45=9655$.

Step3: Add bank - made collection

Add the $900 collection made by the bank. So, $9655+900 = 10555$.

Step4: Add interest earned

Add the $50 interest earned. So, $10555 + 50=10605$.

Answer:

$10605$