Question: Damon Company receives its monthly bank statement, which reports a balance of $2,000. After comparing this to the companys cash records, Damons accountants determine that

Damon Company receives its monthly bank statement, which reports a balance of $2,000. After comparing this to the company’s cash records, Damon’s accountants determine that deposits outstanding total $4,200 and checks outstanding total $4,450.

Required:
Calculate the reconciled bank balance for cash.

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