Multiple Choice
The May bank statement for Legal Services shows a balance of $6,000,but the balance per books shows a cash balance of $7,680.Other information includes:
1) A check for $200 to pay the electric bill was recorded on the books as $20.
2) Included on the bank statement was a note collected by the bank for $400 plus interest of $30
3) Checks outstanding totaled $260.
4) Bank service charges were $50.
5) Deposits in transit were $2,140.
The adjusted cash balance at the end of May should be:
A) $9,810.
B) $7,620.
C) $7,150.
D) $7,880.
Correct Answer:

Verified
Correct Answer:
Verified
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