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Duke Company's unadjusted bank balance at March 31 is $5,500. The bank reconciliation revealed outstanding checks amounting to $800 and deposits in transit of $550.

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Duke Company's unadjusted bank balance at March 31 is $5,500. The bank reconciliation revealed outstanding checks amounting to $800 and deposits in transit of $550. Based on this information, Duke's true cash balance is: Multiple Choice $5.500 $4,950 $6,050 $5,250

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