On September 30, 2016, the bank statement of Fine Company showed a balance of $7, 800. The following information was revealed by comparing the bank statement to the cash balance In Fine's accounting records: deposits In transit amounted to $3, 150 outstanding checks amounted to $6, 200 a $550 check was Incorrectly drawn on Fine's account NSF checks returned by the bank were $750 bank service charge was $29 credit memo for $75 for the collection of one of the company's account receivable Based on the above information the true cash balance was: $4, 596. $7, 096. $5, 300. $5, 346