Compute the adjusted balance of cash per bank statement

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Question - On December 31, Lee Company's bank statement had a balance of $31,930. Analysis of the bank statement and comparison of the statement and records indicated the following:

Deposits in transit at the end of December $6,170

Outstanding checks at the end of December 3,970

Bank service charge 20

Customer's returned check, NSF 1,260

Bank collection of note on our behalf 5,170

Interest received on note 170

In reviewing the records, Lee Company also discovered the following error: A Koala Company check of $1,480 was charged to Lee Company's account.

Required: Compute the adjusted balance of Cash per bank statement.

Reference no: EM132435802

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