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Question 4 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. At August 31, Cullu

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Answer #1

Cash balance per books    $9,700

(-) Printing checks charges $(35)

+ Interest earned $40

Adjusted cash balance as per books $9,705

Note:

  • Printing cheques amount has been charged in bank statement, so the same has to be reflected in the books by deducting from cash balance.
  • Interest earned is an income earned and reflected in bank statement. So the same has to be added to cash balance in the books.
  • Since the cheques are outstanding, the same have been already reflected in cash book so no effect has to be given regarding the same.

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