Apples & Bananas Inc. is in the process of reconciling its bank account for the month of May. The following information is available: Balance per bank statement $ 12,488 Balance per book 10,894 Outstanding checks 3,600 Deposits in transit 1,623 EFT payment to vendor 525 Customer's note receivable collected by the bank 360 Collection fee (5%) charged by bank 18 What would be the adjusted cash balance at the end of May $11,052 $10,368 $14,265 $10,711