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What is the true cash balance

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Question - On September 30 the bank statement of ABC Company showed a balance of $8,100. The following information was revealed by comparing the bank statement to the cash balance in ABC's accounting records:

Deposits in transit amounted to $3,450

Outstanding checks amounted to $6,660

The bank incorrectly paid a $580 check written by AAA from ABC's account

NSF checks returned by the bank were $820

The bank service charge was $31

Credit memo for $90 for the collection of one of the company's accounts receivable

Required - What is the true cash balance?

A. $5,470

B. $4,709

C. $7,059

D. $5,529

Reference no: EM133114704

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