Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August $31,$ its Cash account shows a debit balance of $$17,162.$ Franklin's August bank statement shows a $$17,437$ balance in the bank. Determine the adjusted cash balance using the following information:

Deposit in transit

Outstanding checks

Bank service fees, not yet recorded by company

$$5,700$

The bank collected on a note receivable, not yet recorded by the company

$$4,700$

$$90$

$$1,365$

The adjusted cash balance should be:

Multiple Choice

$$18,527$

$$18,437$

$$12,737$