Reference no: EM133009802

On March 31, 2014, Able Company received the bank statement. However, the closing balance of the account was unreadable. Attempts to contact the bank after hours did not secure the desired information.

The following data are available in preparing a bank reconciliation:

February 28 book balance - 1,460,000;

Note collected by bank - 100,000;

Interest earned on note - 10,000;

NSF check of customer - 130,000;

Bank service charge on NSF check - 2,000;

Other bank service charges - 3,000;

Outstanding checks - 202,000;

Deposit of February 28 placed in night depository - 85,000;

Check issued by Axle Company charged to Abie's account - 20,000.

Problem 1: What is the cash balance per bank statement?

a. 1,532,000
b. 1,557,000
c. 1,338,000
d. 1,435,000