Question: In preparing its August 31, 2011 bank reconciliation, Apex Corp. has available the following information: Balance per bank statement, 8/31/11 $18,050 Deposit in transit, 8/31/11

In preparing its August 31, 2011 bank reconciliation, Apex Corp. has available the following information:

Balance per bank statement, 8/31/11 $18,050 Deposit in transit, 8/31/11 3,250 Return of customer’s check for insufficient funds, 8/31/11 600 Outstanding checks, 8/31/11 2,750 Bank service charges for August 100 At August 31, 2011, Apex’s correct cash balance is

a. $18,550

b. $17,950

c. $17,850

d. $17,550

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