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In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the...

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Accounting

In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:

Cash balance per company books on January 30 $ 5,925
Deposits in transit at month-end $ 2,040
Outstanding checks at month-end $ 640
Bank service charges $ 37
EFT automatically deducted monthly, not yet recorded by Maxi $ 620
An NSF check returned on a customer account $ 385

The adjusted cash balance per the books on January 31 is:

Multiple Choice

  • $6,283

  • $6,197

  • $4,883

  • $5,871

  • $6,923

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