Owen Company's unadjusted book balance at June 30 is $12,920. The company's bank statement reveals bank service charges of $100. Two credit memos are included in the bank statement: one for $1330, which represents a collection that the bank made for Owen, and one for $160, which represents the amount of interest that Owen had earned on its interest-bearing account in June. What is the true cash balance?
A. $14,090
B. $12,920
C. $14,310
D. $14,510
Answer: C
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