1. The accounting records of Baldacchino Services Ltd show that the total cash receipt in May is $14,538.18 whereas the total cash paid in May is $14, 800.62.

   On 31 May, the bank statement of Baldacchino Services Ltd shows the following: (1) the bank debited the account for $268.00 for a customer cheque (deposited in April) returned because of insufficient funds, (2) the bank debited the account for $32.00 for account fees, and (3) the bank credited the account for $1, 250.00 for the proceeds of a non-interest-bearing note receivable that it had collected on behalf of the company.

   If there are no other adjustments, what would be the correct cash paid ($) in May?

   		15 788.18
   		14 832.62
   		16 050.62
   		none of the above