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A Company deposits all cash receipts on the day they are received and makes all ...
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A Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $22,025. May bank statement shows a $19,800 balance in the bank. Determine the adjusted cash balance using the following information:
| Deposit in transit | $ 6,700 |
|---|---|
| Outstanding checks | $ 5,600 |
| Bank service fees, not yet recorded by company | $ 75 |
| A NSF check from a customer, not yet recorded by the company | $ 1,050 |
The adjusted cash balance should be:
0%
0%
0%
0%
100%