On September 30 , the bank statement of Flne Company showed a balonce or $10,500. The following infarmation was rovealed by comparing the bait statement to the cash balance in Fine's accounting records: - Deposits in transit amounted to $4,350 - Outstanding checks amounted to 58,040 - A $670 check wos incorrectly drawn on Fine's account - NSF checks returned by the bank were $1,030 - Bank service charge was $37 - Credit memo for $135 for the collection of one of the company's account recelvobie Based on the above information, the true cash balance was: Multiple Choice 58,448 $7,480. $7.578