Jane Co'S Checkbook Currently Has a Balance of $295

question 1

Multiple Choice

Jane Co.'s checkbook currently has a balance of $295.10. The bank statement shows a balance of $205.10. The statement revealed interest income of $10.03 along with check charges of $2.95. Jane recorded a $200 check as $150. Deposits in transit were $402.80. Check numbers 85, 88, and 92 for $90.80, $108.10, and $156.82 were not returned with the statement. The reconciled balance is:

• A)$302.18
• B)$242.18
• C)$242.51
• D)$252.18
• E)None of these

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Definitions:

Exports

Goods or services that are produced in one country and sold to buyers in another, contributing to the exporting country's economy.

Imports

Goods and services bought from foreign countries for domestic consumption.

Trade Balance

The difference between a country's exports and imports, indicating whether a country has a surplus or deficit in trade with foreign partners.

Imports

Goods or services brought into one country from another for sale or use.