Owen Company's unadjusted book balance at June 30 is $15,200. The company's bank statement reveals bank service charges of $130. Two credit memos are included in the bank statement: one for $1570, which represents a collection that the bank made for Owen, and one for $220, which represents the amount of interest that Owen had earned on its interest-bearing account in June. What is the true cash balance?
A. $16,860
B. $17,120
C. $15,200
D. $16,550
Answer: A
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