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

  1. $18,550
  2. $17,950
  3. $17,850
  4. $17,550