In preparing its June 30, bank reconciliation, a company has available the following information:
Balance per bank statement on June 30 was $55,300
Deposit in transit on June 30 were 7,800
Return of customer's check not sufficient funds 1,200
Outstanding checks as of June 30 were 5,500
Bank service charges for June were 350
1. As of June 30, the company's adjusted cash balance is:
Select one:
a. 441,000
b. $44,200
c. $44,400
d. $57,600
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