adjusted cash in bank on December 31,2020

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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In an audit of Mindanao Company on December 31,2020, the following data are
gathered:
Balance per book
2,000,000
Bank charges
Outstanding checks
6,000
470,000
Deposit in transit
600,000
Customer note collected by bank
750,000
Interest on customer note
30,000
Customer check returned NSF
124,000
Depositor's note charged to account
500,000
9. What is the adjusted cash in bank on December 31,2020?
Transcribed Image Text:In an audit of Mindanao Company on December 31,2020, the following data are gathered: Balance per book 2,000,000 Bank charges Outstanding checks 6,000 470,000 Deposit in transit 600,000 Customer note collected by bank 750,000 Interest on customer note 30,000 Customer check returned NSF 124,000 Depositor's note charged to account 500,000 9. What is the adjusted cash in bank on December 31,2020?
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