Annapolis Company's bank statement indicated an ending cash balance of $8,740. Alpha's accountant discovered that outstanding checks amounted to $765 and deposits in transit were $1,120. Additionally, the bank statement showed service charges of $25.
What is the correct adjusted ending cash balance
| Cash balance | 8740 |
| Minus: outstanding checks | (765) |
| Add: deposits in transit | 1120 |
| Minus: service charges | (25) |
| correct adjusted ending cash balance | 9070 |
Annapolis Company's bank statement indicated an ending cash balance of $8,740. Alpha's accountant discovered that outstanding...