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On May 31, Money Corporation's Cash account showed a balance of $18,000 before the bank reconciliation was prepared. After examining the May bank. statement and
On May 31, Money Corporation's Cash account showed a balance of $18,000 before the bank reconciliation was prepared. After examining the May bank. statement and items included with it, the company's accountant found the following items: Checks outstanding Deposits outstanding $ 1,350 3,800 NSF check from a customer 290 Service fees 105 Error: Money Corporation wrote a check for $55 but recorded it incorrectly for $550. What is the amount of cash that should be reported in the company's balance sheet as of May 31? Multiple Choice $18,100 $20,450 $17,000 $17,605 B
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