Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $29,861 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit3750?Outstanding checks1458?Additionally, a $56 check correctly written and recorded by the company was recorded by the bank as a $65 deduction.The adjusted cash balance per the bank records should be:
A. $35,078
B. $32,162
C. $32,153
D. $24,662
E. $32,144
Answer: B
Business
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