Author Question: The amount of cash to be reported on the balance sheet at June 30 is the a. total of the cash ... (Read 166 times)

Deast7027 · **on:** Jul 5, 2018

The amount of cash to be reported on the balance sheet at June 30 is the
a. total of the cash column in the cash receipts journal as of June 30
b. adjusted balance appearing in the bank reconciliation for June 30
c. total of the cash column in the cash payments journal as of June 30
d. balance as of June 30 on the bank statement

Question 2

Ace Electronics accepted a promissory note from Fenstermaker, who promised to pay Ace 2,000 plus 6 interest at the end of six months. When Fenstermaker first gives Ace the note, Fenstermaker should record ________.

A) a note payable of 2,000
B) a note receivable of 2,000
C) a note payable of 2,060
D) a note receivable of 2,060