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Find the correct balance of cash at May

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Question - In preparing its May 31, 2020 bank reconciliation, Waterway Industries has the following information available:

Balance per bank statement, 5/31/20 $38000

Deposit in transit, 5/31/20 5700

Outstanding checks, 5/31/20 3500

Note collected by bank in May 1260

Required - Find the correct balance of cash at May 31, 2020?

a. $41460.

b. $43700.

c. $38940.

d. $40200.

Reference no: EM132623030

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