A Company's Bank Statement Balance Shows That There Is $4,230

Essay

A company's bank statement balance shows that there is $4,230 in the checking account at the end of the month. Comparing the company's records with the bank statement reveals several additional items, such as outstanding checks of $2,880, deposits in transit of $1,280, an NSF check of $160, and a bank service charge of $40. Calculate the adjusted cash balance for this checking account.