While preparing the April 30th bank reconciliation for the checking account for Calvin Corporation, the accountant identified the following items:

Question

Calvin's balance according to the general ledger: $15,000
Outstanding checks: 2,500
Bank service charge: 15
A customer's NSF check returned by the bank: 100

What amount will Calvin report as its adjusted cash balance at April 30th?

Answer 1

So how much interest did it calculate in a percentage so how much would that be for the pay settlement