Jeter Company Developed the Following Reconciling Information in Preparing Its

question 3

Multiple Choice

Jeter Company developed the following reconciling information in preparing its September bank reconciliation: $\begin{array}{lr}\text { Cash balance per bank, } 9 / 30 & \$ 15,400 \\\text { Note receivable collected by bank } & 8,400 \\\text { Outstanding checks } & 12,600 \\\text { Deposits in transit } & 6,300 \\\text { Bank service charge } & 105 \\\text { NSF check } & 1,680\end{array}$
Using the above information, determine the cash balance per books (before adjustments) for the Jeter Company.

• A)$13,685
• B)$21,700
• C)$2,485
• D)$21,000

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Definitions:

Different Prices

A situation where a seller charges varying prices for the same product or service, often based on factors such as customer location, purchase volume, or demand elasticity.

Monopolistically Competitive

Refers to a market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Minimizes Average Costs

Refers to the strategy or condition in which a firm operates at the lowest possible cost per unit, optimizing efficiency.

Industry

A broad term referring to the production of goods or services within an economy that are related by their principal business activities.