Cesario Auto's bank statement shows a bank balance of $43,267.The statement shows a bank service charge of $50 and a note collection of $760 on Cesario Auto's behalf.Cesario Auto's book balance should be adjusted by a total of:

Question

Quizplus · Accepted Answer

The bank service charge of $50 decreases the book balance by $50 (debit), while the note collection of $760 increases the book balance by $760 (credit). Therefore, the total adjustment is $710, which decreases the book balance. Therefore, the correct choice is C because it represents the decrease of $710 in Cesario Auto's book balance.

Cesario Auto's Bank Statement Shows a Bank Balance of $43,267