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Question - Lovely Company's bank statement for the month of April included the following information:
Bank service charge for April: $15,000
Cheque deposited by Lovely during April was not collectible and has been marked "NSF" by the bank and returned: $40,000
Deposits made but not yet recorded by bank: $130,000
Cheques written and mailed but not yet recorded by bank: $100,000
The entity found a customer cheque for $35,000 payable to the entity that had not yet been deposited and had not been recorded.
The general ledger showed a bank account balance of $920,000.
Required - What is the adjusted cash in bank on April 30?
a. $930,000
b. $900,000
c. $865,000
d. $965,000
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