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 $26,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit3050?Outstanding checks1269?Additionally, a $38 check written and recorded by the company correctly, was recorded by the bank as a $83 deduction.The adjusted cash balance per the bank records should be:
A. $28,097
B. $28,187
C. $30,725
D. $22,087
E. $28,142
Answer: B
Business
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