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Question - The following information is available for Trinkle Company for the month of June:
The unadjusted balance per the bank statement on June 30 was $52,780.
Deposits in transit on June 30 were $2,850.
A debit memo was included with the bank statement for a service charge of $24.
A $4,724 check written in June had not been paid by the bank.
The bank statement included a $800 credit memo for the collection of a note. The principal of the note was $750, and the interest collected amounted to $50.
Required - Determine the true cash balance as of June 30.
Would you make the investment Why or why not Note that we discounted the project's negative cash flows back to the present using the project.
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