The Conner Company's August 31 pre-reconciliation cash balance on its books was $93,000. As of...
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Accounting
The Conner Company's August 31 pre-reconciliation cash balance on its books was $93,000. As of August 31, outstanding checks total $45,200 and deposits in transit total $30,600. Assuming there are no other reconciling items, what was the August 31 cash balance on Conner's bank statement?
Multiple Choice
$107,600.
$78,400.
$14,600.
$93,000.
The CHS Company has provided the following information:
Accounts receivable written-off as uncollectible during the year amounted to $13,000.
The accounts receivable balance at the beginning of the year was $300,000.
The accounts receivable balance at the end of the year was $360,000.
The allowance for doubtful accounts balance at the beginning of the year was $15,500.
The allowance for doubtful accounts balance at the end of the year after the recording of bad debt expense was $14,400.
Credit sales during the year totaled $975,000.
How much cash was received from collections of accounts receivable?
Multiple Choice
$962,000.
$628,000.
$615,000.
$902,000.
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