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A company's bank statement shows a cash balance of $4,220. Comparing the company's cash records with the monthly bank statement reveals several additional cash transactions such as checks outstanding of $2,140, NSF check of $210, interest earned of $40, service fee of $44, and a check for $120 recorded twice by the company. Calculate the correct balance of cash?

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Answer:

Step-by-step explanation:

Correct cash balance = Cash balance shown in bank statement - Checks outstanding = 4220 - 2140 = 2080

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