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  3. 4. a corporation is reconciling its checking accou

4. A corporation is reconciling its checking account for the month of March, 20x1. As...

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Accounting

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4. A corporation is reconciling its checking account for the month of March, 20x1. As of March 31, 20x1, the bank statement indicates a balance of $750 and the general ledger Cash account balance is $800. The corporation determines that it had one deposit in transit for $100 and four outstanding checks totaling $90. The corporation also discovers that the bank has issued a March credit memo for interest income of $5 and a March debit memo for bank service charges of $45. What is the correct reconciled bank balance as of March 31, 20x1? A. $720 B. 760 C. 770 D. 710 E. None of the above

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