Sales $500,000Purchases 225,000Inventory (beginning) 16,000Inventory (ending) 30,000Operating Expenses 148,000Income Tax Expense 10,000Retained Earnings (beginning) 53,000Dividends 15,000Calculate net income. *
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Baker's book balance 15,000
Outstanding checks 2,500
Service charge 15
Customer's NSF check returned by the bank 100
What amount will Baker report as its adjusted ("true") cash balance at February 28, 2012?
14,885
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