Electric Sunset Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books, 7/31 - $5,500 Deposits in transit - 300 Notes receivable and interest collected by bank - 1,100 Bank charge for check printing - 20 Outstanding checks - 2,000 NSF check - 170 The adjusted cash balance per bank on July 31 is .a) $4,410.
b) $6,410.
c) $6,710.
d) $4,710.

b.$6,410

Explanation:

Cash Balance per books               $5,500

Note receivable and interest collected $1,100

Bank Charges for check printing              ($20)

NSF Check                                                ($170)

Adjusted balance per cash book          $6,410

Please note that outstanding checks and deposits in transit will be recorded in bank balance therefore ignored in our working as above.

there was no passage listed but using the process of elimination i'd say it was d. the high economy would do the opposite. i don't see how low prices would affect it. high unemployment is possible but i feel d is the better answer.

answer; that person may have a larger tax bill to pay on income taxes;