In preparing its bank reconciliation at March 31, Valley Company has the following information:

Cash balance per bank statement	$111,150
Cash balance per general ledger	114,000
Deposits in transit	17,250
Outstanding checks	17,250
Deposit erroneously recorded by bank
in Valley's account on March 12	750
Bank service charges for March	150
NSF check returned by bank	3,450

What is the proper cash balance at March 31 for balance sheet purposes?

Select one:

A. $110,400

B. $110,250

C. $107,250

D. $111,150