A bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, deposits in transit of $317, outstanding checks of $221, and NSF checks of $90. The correct cash balance is?

Correct cash balance is $  1,580

Explanation:

Balance as per cash book                                                    $ 1,681

Less: Bank charges                                                               $ (    11)  

Less: NSF cheques                                                                $ (   90)

Adjusted balance per cash book                                         $ 1,580

Balance per bank statement                                                  $ 1,484

Add: Deposits in transit                                                          $    317

Less; Outstanding checks                                                      $ (  221)

Adjusted balance per bank statement                                $ 1,580

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