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In reconciling a bank statement, the bank statement balance is $1,000 and the balance per the books is $1,205. Bank service charge is $5; a

In reconciling a bank statement, the bank statement balance is $1,000 and the balance per the books is $1,205. Bank service charge is $5; a deposit in transit totals $500, and outstanding checks total $300. The adjusted bank balance and book balance is

Multiple Choice

  • $1,505

  • $1,205

  • $1,500

  • $1,200

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