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Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. O reduce its cash account by $485.

Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. O reduce its cash account by $485.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 5.21E
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Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. O reduce its cash account by $485.
Transcribed Image Text:Teal Mountain Wholesale Company assembled the following information in completing its March bank reconciliation: Balance per bank $17600 Outstanding checks $3575 Deposits in transit $5750 NSF check $370 Bank service charges $115 Cash balance per books $20260 As a result of this reconciliation, Teal Mountain will O reduce its cash account by $115. O increase its cash account by $255. O reduce its cash account by $2175. O reduce its cash account by $485.
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