Frаnklin Cоmpаny depоsits аll cash receipts оn the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $20,162. Franklin's August bank statement shows a $19,837 balance in the bank. Determine the adjusted cash balance using the following information: Deposit in transit $ 6,600 Outstanding checks $ 5,300 Bank service fees, not yet recorded by company $ 120 The bank collected on a note receivable, not yet recorded by the company $ 1,095 The adjusted cash balance should be:
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