At the end of the year, a companys bank balance for cash equals $4,000. The following information is available from the bank statement: Deposits Outstanding = $2,500 Service charge = $100 Note collected by the bank = $500 Checks Outstanding = $2,000 NSF check = $300 What is the companys adjusted bank balance of cash? Selected Answer: :ta. $4,500 b. $3,900 c. $3,600 d. $4,600 e. $4,100

PLEASE GIVE A LONGER RESPONSE AND EXPLAIN WHY THE ANSWER IS A. THANK YOU. I AM TRYING TO UNDERSTAND BANK RECONCILIATION AS BEST AS POSSIBLE.