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Cyprus, Inc.s June bank statement shows a June 30 balance of $27,150. Prior to reconciliation, its books show a cash balance of $27,630. The information
Cyprus, Inc.s June bank statement shows a June 30 balance of $27,150. Prior to reconciliation, its books show a cash balance of $27,630. The information below pertains to Cyprus:
Deposit in transit | $2,100 |
Checks outstanding | 1,440 |
Bank service charges | 60 |
Error in Cyprus's records overstating cash disbursement | 270 |
Check of another company charged erroneously against | |
Cyprus, Inc.'s bank account | 750 |
Bank statement shows bank collected a note receivable | |
and interest income for Cyprus, Inc. | 720 |
The reconciled cash balance at June 30 on the bank reconciliation should be:
Select one:
A. $28,810
B. $28,560
C. $30,300
D. $28,020
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