medium · Financial Accounting assets
Vanguard Co. has a bank balance of $14,000. Reconciliation reveals: Deposits in transit $2,500; Outstanding checks $4,000; Bank service charges $30. The bookkeeper also found that a $500 check for rent was recorded as $50.
What is the adjusted cash balance?
- $12,470
- $15,500
- $12,500
- $12,050
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