A company's records indicate the balance in its checking account at the end of the month is $5,671. Comparing the company's records with the monthly bank statement reveals several additional cash transactions, such as a bank service charge of $75, a $4,000 note receivable collected by the bank plus interest earned of $100, and an NSF check for $350. Determine the company's adjusted cash balance and prepare the journal entries necessary to adjust the account balance.

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The Answer of A company's records indicate the balance in its checking account at the end of the month is $5,671. Comparing the company's records with the monthly bank statement reveals several additional cash transactions, such as a bank service charge of $75, a $4,000 note receivable collected by the bank plus interest earned of $100, and an NSF check for $350. Determine the company's adjusted cash balance and prepare the journal entries necessary to adjust the account balance.

A Company's Records Indicate the Balance in Its Checking Account