Author Question: The following data were gathered to use in reconciling the bank account of Savannah Company: Balance ... (Read 105 times)

LaDunn · **on:** Jul 5, 2018

The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank 16,750 Balance per company records 16,125 Bank service charges 80 Deposit in transit 2,195 NSF check 950 Outstanding checks 3,850 What is the adjusted balance on the bank reconciliation?
a. 14,470 b. 10,705
c. 15,095 d. 15,720

Question 2

On January 1, 2011, Alpha Enterprise signed a 100,000, 6, 20-year mortgage note to buy a new warehouse. The mortgage will be repaid in a series of twenty equal annual installment payments.

Over the 20-year period, as each installment payment is made, the portion of the payment that is interest expense will ________.
A) increase
B) decrease
C) stay the same
D) The answer cannot be determined from the information given.