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The Cash account in the ledger of Hensley, Inc. showed a balance of $4,300 at June 30. The bank statement, however, showed a balance of
The Cash account in the ledger of Hensley, Inc. showed a balance of $4,300 at June 30. The bank statement, however, showed a balance of $6,700 at the same date. The only reconciling items consisted of a $750 deposit in transit, a bank service charge of $11, and a large number of outstanding checks. What is the "adjusted cash balance" at June 30?
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$6,700.
$4,289.
$3,161.
$3,550.
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