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In preparing its May 31, 2010 bank reconciliation, Catt Co. has the following information available Balance per bank statement, 5/31/10 $30,000 Deposit in transit, 5/31/10

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In preparing its May 31, 2010 bank reconciliation, Catt Co. has the following information available Balance per bank statement, 5/31/10 $30,000 Deposit in transit, 5/31/10 5,400 Outstanding checks, 5/31/10 4,900 Note collected by bank in May 1,250 The correct balance of cash at May 31, 2010 is? a. $30,500. b. $29,250. C $35,400. $31750

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