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Question - In preparing the bank reconciliation of Crews Company for the month of July, the following information is available:
Balance per bank statement, 7/31 P54,075
Deposits in transit, 7/31 9,375
Outstanding checks, 7/31 8,625
Deposit erroneously recorded by bank to Crews account, 7/18 375
Bank service charges for July 75
Required - What is the correct cash balance at July 31?
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