The following information is available for Matt's Unlimited Company for the current month. What is the adjusted book balance on the bank reconciliation? $$\begin{array} { | l | r | }
\hline
\text { Book balance end of the month } & \$ 5,575 \
\hline \text { Outstanding checks } & 584 \
\hline \text { Deposits in transit } & 2,500 \
\hline \text { Service charges } & 75 \
\hline \text { Interest revenue } & 25 \
\hline
\end{array}$$
A)$7,466
B)$5,500
C)$5,550
D)$5,525

Question

The following information is available for Matt's Unlimited Company for the current month. What is the adjusted book balance on the bank reconciliation? $$\begin{array} { | l | r | } 
\hline
\text { Book balance end of the month } & \$ 5,575 \
\hline \text { Outstanding checks } & 584 \
\hline \text { Deposits in transit } & 2,500 \
\hline \text { Service charges } & 75 \
\hline \text { Interest revenue } & 25 \
\hline
\end{array}$$
A)$7,466
B)$5,500
C)$5,550
D)$5,525

Quizplus · Accepted Answer

The adjusted book balance is calculated by taking the book balance and adjusting for service charges and interest revenue: $5,575 - $75 + $25 = $5,525.

The Following Information Is Available for Matt's Unlimited Company for the Current