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The following information was taken from the bank reconciliation for Harry's Inc. at the end of the year: Bank balance: $ 7 , 0 0

The following information was taken from the bank reconciliation for Harry's Inc. at the end of the year:
Bank balance: $7,000
Checks outstanding: $1,200
Note collected by the bank: $1,000
Service fee: $50
Deposits outstanding: $2,000
NSF check (bad check) returned for $200
What is the correct cash balance that should be reported in Harry's balance sheet at the end of the year?
Question 23 options:
$9,000
$7,800
$7,750
$6,750

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