Prepare balance sheet for the amount of cash

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Reference no: EM131761292

Question: Quantity Dairy gathered the following reconciling information in preparing its December bank reconciliation.

Cash balance per books, 12/31	$8,500
Deposits-in-transit	$1,000
Balance per bank statement	$7,900
Bank service charge	$ 25
Outstanding checks	$1,400
Customer NSF check returned	$ 500
A check correctly written for $1,500 for payment on account was recorded in the journal for $1,025.	?

The amount of cash that should be reported on the December 31 balance sheet is.

Reference no: EM131761292

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