Answered
Huntress, Inc.reported a balance of $141 in its cash account at the end of the month.There were $120 of deposits in transit and $115 of checks outstanding.The bank statement showed a balance of $151, service charges of $7, and the collection of a note plus interest.The note had a face value of $17.How much interest did the bank collect for the company?
A) $ 5
B) $15
C) $17
D) $29
On May 03, 2024