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xxxxx all cash receipts on the day they are received and makes all cash payments by check. The July bank statement shows $22,604 at the

xxxxx all cash receipts on the day they are received and makes all cash payments by check. The July bank statement shows $22,604 at the end of the month. Comparison of the bank statement to its general ledger cash account revealed the following:

Deposit in transit 1,500
Outstanding checks 2,254

The adjusted cash balance per the bank records should be:

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