Solution-The unadjusted balance per the bank statement

The unadjusted balance per the bank statement

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Reference no: EM13930247

The following information is available for Young Company for the month of August:

1. The unadjusted balance per the bank statement on August 31 was $35,200.

2. Deposits in transit on August 31 were $3,750.

3. A debit memo was included with the bank statement for a service charge of $35.

4. A $2,120 check written in August had not been paid by the bank.

5. The bank statement included a $1,550 credit memo for the collection of a note. The principal of the note was $1,500, and the interest collected was $50.

Required:

Determine the true cash balance as of August 31.

Reference no: EM13930247

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The unadjusted balance per the bank statement

Reference no: EM13930247

Reference no: EM13930247

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