The may bank statement for accounting services shows a balance of $6,300, but the balance per books shows a cash balance of $7,980. other information includes the following: following: -a check for $200 to pay the electric bill was recorded on the books as $20. -included on the bank statement was a note collected by the bank for $400 plus interest of $30. -checks outstanding totaled $260. -bank service charges were $50. -deposits in transit were $2,140. the adjusted cash balance at the end of august should be a. $7,980. b. $9,810. c. $7,620. d. $8,180.

The correct answer is choice D - $8,180.

Explanation: In order to determine the adjusted cash balance you need to first look at the bank balance. You need to add to in any deposits in transit and subtract any outstanding checks.

$6,300 + 2,140 - 260 = $8,180.

Next, you need to look at the book balance. From the book balance you need to subtract the correction for the electric bill payment, subtract the bank service charge and add any notes collected.

$7,980 - 180 - 50 + 430 = $8,180

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