Honey Hut's unadjusted bank balance is $3,000. Outstanding checks amount to $500 and deposits in transit total $300. Based on this information alone, Honey Hut's adjusted cash balance is:

Question

Quizplus · Accepted Answer

The adjusted cash balance is calculated by subtracting the outstanding checks ($500) and adding the deposits in transit ($300) to the unadjusted bank balance ($3,000), resulting in $2,800.

Honey Hut's Unadjusted Bank Balance Is $3,000