In preparing its August 31, 2006 bank reconciliation, Apex Corp. has available the following information:
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|
Balance per bank statement, 8/31/06 |
$18,050 |
|
Deposit in transit, 8/31/06 |
3,250 |
|
Return of customer’s check for insufficient funds, 8/31/06 |
600 |
|
Outstanding checks, 8/31/06 |
2,750 |
|
Bank service charges for August |
100 |
At August 31, 2006, Apex’s correct cash balance is
- $18,550
- $17,950
- $17,850
- $17,550