A company's bank statement balance shows that there is $6,330 in the checking account at the end of the month. Comparing the company's records with the bank statement reveals several additional items, such as outstanding checks of $1,200, deposits in transit of $4,300, an NSF check of $250, and a bank service charge of $55. Calculate the adjusted cash balance for this checking account
$6,330 (Bank balance) - 1,200 (Outstanding checks) + 4,300 (Deposits in transit) = $9,430
Business
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