Madrid Consulting, Inc Madrid Consulting, Inc prepared a bank reconciliation as of March 31, 2011. The following items were identified. Madrid's bank statement balance $31,400 Unadjusted cash balance from Madrid's records ? Deposit in transit 1,800 Outstanding checks 4,500 Bank service charges 100 Interest earned on the bank account 85 Customer's NSF check returned by the bank 450 Refer to the
information provided for Madrid Consulting, Inc What is net amount of the adjustments to Madrid's cash balance as a result of the bank reconciliation?
A) $465 increase
B) $465 decrease
C) $2,700 decrease
D) $2,700 increase
B
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