Ciao, Inc had $962 in its cash account per the company's records as of June 30th. This included a deposit of $87 that was in transit on June 30th. The June 30th bank statement contained the following information: Bank statement balance $1,089 Bank service charge 7 Collection of notes receivable 68 NSF check 16 Ciao also had outstanding checks of $169. What is Ciao's adjusted cash balance at June
30th?
A) $920
B) $940
C) $1,007
D) $1,089
C
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