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A bank statement shows a balance of $7,075 at June 30. The bank reconciliation is...

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Accounting

A bank statement shows a balance of $7,075 at June 30. The bank reconciliation is prepared and includes outstanding checks of $2,135, deposits in transit of $1,550, and a bank service charge of $45. Among the paid checks returned by the bank was check number 766 in the amount of $550, which the company had erroneously recorded in the accounting records as $60. The adjusted cash balance at June 30 is:
Multiple Choice
$6,110
$5,530
$6,490
$4,470
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