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A bank statement shows a balance of $8,065 at June 30. The bank reconciliation is prepared and includes outstanding checks of $2,105, deposits in transit
A bank statement shows a balance of $8,065 at June 30. The bank reconciliation is prepared and includes outstanding checks of $2,105, deposits in transit of $1,490, and a bank service charge of $35. Among the paid checks returned by the bank was check number 766 in the amount of $530, which the company had erroneously recorded in the accounting records as $60. The adjusted cash balance at June 30 is:
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