TB MC Qu. 08-136 (Algo) Ryan Company deposits...

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $22,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following:

Deposit in transit	2,250
Outstanding checks	1,053

Additionally, a $46 check written and recorded by the company was incorrectly recorded by the bank as a $64 deduction. The adjusted cash balance per the bank records should be:

Multiple Choice

• $23,558

• $23,540

• $25,682

• $23,576

• $19,076