The following information is available for Stephen's Fashions, Inc. for the current month. Book balance end of month $7100 Outstanding checks 700 Deposits in transit 4,000 Service charges 100 Interest revenue 50 What is the adjusted book balance on a bank reconciliation? Multiple Choice 0 $10,250 $6,950 Nugget's Instruments, merchandisers of musical instruments, has provided the following details: Mar. 5 Inventory purchased on account $775.000 Mar. 8 Freight in 30.000 Mar. 13 Purchase returns 50,000 Mar. 14 Allowances by vendor 14,000 Payment made to the vendor for purchases on Mar. 20 March 5 2 Credit terms are 3/20, 1/45, FOB shipping point Calculate the net cost of Inventory purchased auming that there are no other inventory-related transactions during the month. Assume that the perpetual inventory system is used