## scenario 3: greenthumb landscaping\ngreenthumb landscapings bank statement for october 31 shows the…

## scenario 3: greenthumb landscaping\ngreenthumb landscapings bank statement for october 31 shows the following:\nbalance per bank statement: $9,120\nbalance per books: $7,535\nnote collected by bank: $1,500 (principal) plus $50 interest\noutstanding checks: #455 for $225, #459 for $180\nbank collection fee: $10\ndeposits in transit: $300\nwhich item(s) in this scenario increase your balance as per the book side?\n○ balance per books\n○ outstanding checks\n○ note collected by bank\n○ deposit in transit

## scenario 3: greenthumb landscaping\ngreenthumb landscapings bank statement for october 31 shows the following:\nbalance per bank statement: $9,120\nbalance per books: $7,535\nnote collected by bank: $1,500 (principal) plus $50 interest\noutstanding checks: #455 for $225, #459 for $180\nbank collection fee: $10\ndeposits in transit: $300\nwhich item(s) in this scenario increase your balance as per the book side?\n○ balance per books\n○ outstanding checks\n○ note collected by bank\n○ deposit in transit

Answer

Brief Explanations:

The balance per books is the starting - point on the book side. Outstanding checks reduce the book balance when they clear. Deposits in transit are already included in the book balance but not in the bank statement yet. The note collected by the bank (principal and interest) increases the book balance as it is money the company has earned but was collected by the bank on its behalf.

Answer:

Note Collected by Bank