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What is the correct cash balance

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Question - Beta Inc.'s bank statement shows a balance of $19,700 on November 30. The following additional information is available:

  • Deposits of $3,400, representing cash receipts for sales in November, did not appear on the November bank statement.
  • Cheques totaling $2,900, representing cheques issued in November, did not appear on the November bank statement.
  • A cheque for $660 from a customer was returned by the bank and marked NSF on both the cheque and bank statement.
  • A cheque issued in November was recorded for $325, but the correct amount that cleared the bank account was $352.
  • Cash on hand is $350.

Based only on the information above, what is the correct cash balance that should be reported on Beta's balance sheet on November 30?

a. $19,513

b. $19,700

c. $19,863

d. $20,200

e. $20,550

Reference no: EM131766666

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