Marlon, Inc., reported a balance of $133 in its cash account at the end of...
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Marlon, Inc., reported a balance of $133 in its cash account at the end of the month. There were $120 of deposits in transit and $105 of checks outstanding. The bank statement showed a balance of $140, service charges of $7, and the collection of a note plus interest. The note had a face value of $25. How much interest did the bank collect for the company? a. $ 4 b. $ 3 c. $24 d. $12
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