Easton Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, its Cash account shows a debit balance
of $72,709. Easton's June bank statement shows a $68,349 balance in
the bank. Determine the adjusted cash balance using the following information:
Deposit in transit
$ 7,550
24
Outstanding checks
$3,175
Check printing fee, not yet recorded by company
Interest earned, not yet recorded by the company
$ 40
$55
The adjusted cash balance should be:
Multiple Choice
$72,669
$72724
$65374
$72,764
$75.899