Oliver Company's unadjusted book balance at June 30, 2013 is $8,700. The company's bank statement reveals bank service charges of $45. Two credit memos are included in the bank statement: one for $900, which represents a collection that the bank made for Oliver, and one for $50, which represents the amount of interest that Oliver had earned on its interest-bearing account in June. Based on this information, Oliver's true cash balance is:
A)$8,700.
B)$9,605.
C)$9,550.
D)$9,695.

Question

Quizplus · Accepted Answer

$8,700 unadjusted book balance - $45 service charge + $900 collection + $50 interest = $9,605 true cash balance

Oliver Company's Unadjusted Book Balance at June 30, 2013 Is