Larry Company prepares bank reconciliations that adjust to the correct balance of cash, based on the following:
Outstanding checks$ 177
Note collected for Larry by bank 550
Bank service charges 27
Check written for $98 incorrectly recorded in books at $89;
check cleared the bank for $98 9
NSF check 82
Unadjusted book balance 3,299
Deposits in transit 192
Determine the adjusted cash balance.
Answer
A. $3,731
B. $3,908
C. $3,749
D. $3,554