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At July 31, Ramirez Company has the following bank information: cash balance per bank $7,420, outstanding checks $762, deposits in transit $1,620, and a bank service charge $20.
Determine the adjusted cash balance per bank at July 31.
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The cost of not taking the cash discounton trade credit of 3/10, net 30 is equal to:
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Journalize the adjusting entry required at September 30, the end of the first month of the current fiscal year, to record the accrued product warranty.
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