Tavarez Company assembled the following information in completing its July bank reconciliation: balance per bank $15,280; outstanding checks $3,100; deposits in transit $5,000; NSF check $320; bank service charge $100; cash balance per books $17,600. As a result of this reconciliation, Tavarez will

Question

reduce its cash account by $100.

reduce its cash account by $420.

reduce its cash account by $1,900.

increase its cash account by $220.

Answer 1

reduce its Cash account by $420.00