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Determine what the adjusted cash balance should be

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Reference no: EM132703239

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $27,025. Clayborn's May bank statement shows $23,800 on deposit in the bank.

Determine the adjusted cash balance using the following information:

Deposit in transit$8,200

Outstanding checks$6,600

Bank service fees, not yet recorded by company$125

ANSF check from a customer, not yet recorded by the company$1,500

Problem 1: The adjusted cash balance should be

Reference no: EM132703239

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