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Mongal Company’s unadjusted cash balance at the end of April was $28,700. Other relevant information is:...

Mongal Company’s unadjusted cash balance at the end of April was $28,700. Other relevant information is: deposits in transit, $4,600; a credit memo in the bank statement for interest earned, $1,000; a $1,000 check written by Mongal’s controller was incorrectly recorded as $110 by the company’s bookkeeper; a debit memo in the bank statement for a $16 bank service charge; and outstanding checks, $4,200. The true cash balance on April 30 was

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Answer #1
Unadjusted cash balance $28700
Add: Interest earned 1000
Less: Bank service charge (16)
Less: Error in recording check (1000-110) (890)
Adjusted cash balance on April 30 $28794
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