The Following Information Is Needed to Reconcile the Cash Balance

Multiple Choice

The following information is needed to reconcile the cash balance for Woods Paper Products. • A deposit of $5,794.62 is in transit.
• Outstanding cheques total $1,533.25.
• The book balance is $5,695.62.
• The bookkeeper recorded a $1,524.00 cheque as $15,240 in payment of the current month's rent.
• The bank balance at February 28, 2008 was $16,500.25.
• A deposit of $300 was credited by the bank for $3,000.
• A customer's cheque for $1,280 was returned for non-sufficient funds.
• The bank service charge is $70.
What was the adjusted bank balance?

A) $6,472.38
B) $18,061.62
C) $9,355.63
D) $14,938.88