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What is the correct cash balance at July

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Question - In preparing the bank reconciliation of Royal Company for the month of July, the following information is available:

Balance per bank statement, 7/31 P 54,075

Deposits in transit, 7/31 9,375

Outstanding checks, 7/31 8,625

Deposit erroneously recorded by bank to Royal account 375

Bank service charge for July 75

Required - What is the correct cash balance at July 31?

Reference no: EM132625005

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