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Compute the corrected cash balance

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Question - Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,360, and the bank statement showed a bank balance of $1,445. Outstanding checks totaled $350, and deposits in transit were $150. The bank statement listed service charges of $30 and NSF checks totaling $85. The corrected cash balance is:

a. $1,130

b. $1,160

c. $1,245

d. $1,445

Reference no: EM131819869

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