Reference no: EM132586707
Hera Company provided the following information:
Balance per bank statement, May 31 1,300,000 Balance per book - May 31 1,405,000
Deposits outstanding 150,000 Bank service charge (5,000)
Checks outstanding (50,000)
Correct bank balance- May 31 - 1,400,000 Correct book balance- May 31 1,400,000
June data are as follows Bank Book
Checks recorded 1,100,000 1,250,000
Deposits recorded 800,000 900,000
Service Charges recorded 25,000 -
Note collected by bank 250,000 plus interest 275,000
NSF checks returned with June 30 statement 50,000
Balances 1,200,000 1,050,000
Question 1: What is the adjusted cash balance on June 30?
Option 1: Answer not given
Option 2: 1,200,000
Option 3: 1,050,000
Option 4: 1,400,000
Option 5: 1,250,000
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