Question: Shan Enterprises received a bank statement listing its May 31, 2016, bank balance as $47,582. Shan determined that as of May 31 it had cash

Shan Enterprises received a bank statement listing its May 31, 2016, bank balance as $47,582. Shan determined that as of May 31 it had cash receipts of $2,500 that were not yet deposited and checks outstanding of $7,224. Calculate Shan's correct May 31, 2016, cash balance.

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