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What is the adjusted cash in bank on April

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Reference no: EM132618456

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

Reference no: EM132618456

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