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Determine the correct balance in J & Js cash account.
Cash balance per J & J Balance Sheet ??( need to find this balance)
Money market savings account $100,000
Certificate of deposit maturing on January 15th, 2016 $150,000
Cash held in the bank as compensating balance for a note due
March, 2017 $200,000
Note due from customer Jan. 1, 2016 $90,000
Certificate of deposit maturing on May 1st, 2016 $300,450
Outstanding deposits (from the bank reconciliation) $80,500
Post-dated check $115,000
Answer & Explanation
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