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at the end of the accounting year, December 31, 2020, Tuchel company had a petty...

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Accounting

at the end of the accounting year, December 31, 2020, Tuchel company had a petty cash fund balance of $5,000, a chequing account balance of $250,000 in a bank A, an overdraft of $20,000 with Bank B, and $40,000 in customer payments in the form of money orders. Assuming no other differences between the company books and the bank balances what cash amount should the company report on its 2020 balance sheet?
image
option
255000
295000
255000
a gain of 1000 on this trasaction
QUESTION O

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