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Question - The following information is available for Trinckle.
1. The unadjusted balance per the bank statement on June 30 was $81.50.
2. Deposits iransit on June 30 were $3,150.
3. A debit memo was included with the bank statement for a service change of $40.
4. A $5.611 check written in June had not been paid by the bank.
5. The bank statement included a %950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50.
Required - Determine the true cash balance as of June 30.
Prepare the appropriate journal entry(s) on July 31, 2017, to record interest and the payment of the note. Determine the effective interest rate
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the converting department of stay-soft napkin company had 760 units in the work in process at the beginning of the
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