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The following information was taken from the bank reconciliation for Mooner Sooner Inc. at the end of the year: Bank balance: $8,200 Checks outstanding: $7,600
The following information was taken from the bank reconciliation for Mooner Sooner Inc. at the end of the year:
Bank balance: $8,200
Checks outstanding: $7,600
Note collected by the bank: $1,300
Service fee: $29
Deposits outstanding: $5,300
NSF check (bad check) returned for $340
What is the correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year?
$5,900
$5,871
$7,860
$9,160
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