The entry to record a purchase of $5,000 on account, terms of 2/10, n/30, would include a

Calculate, from the following information accumulated by Bob Verna, the adjusted cash balance at the end of July.

Bank statement ending cash balance $6,000

General ledger cash balance ending 8,500

Bank monthly service charge 90

Deposits in transit 5,000

Outstanding cheques 3,000

NSF cheque returned with bank statement 410

answer; is usually (less than) the socially optimal level of consumption;

answer; /// blank(1); increases; blank(2); decreases;