The following information was taken from a company's bank reconciliation at the end of the year:
Bank balance $ 8,000
Checks outstanding $ 5,800
Note collected by the bank $ 1,500
Service fee $ 20
Deposits outstanding $ 4,000
NSF check $ 300
What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?
A) $10,200.
B) $7,400.
C) $6,200.
D) $6,160.
Answer: $6,200.,
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