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$6725?Deposits in transit at month-end$2200?Outstanding checks at month-end$720?Bank service charges$45?EFT automatically deducted monthly, not yet recorded by Maxi$780?An NSF check returned on a customer account$465? The adjusted cash balance per the books on January 31 is:
A. $7085
B. $5435
C. $6575
D. $7635
E. $6915
Answer: B
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