On May 31, Money Corporation's Cash account showed a balance of $14,000 before the bank...
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On May 31, Money Corporation's Cash account showed a balance of $14,000 before the bank reconciliation was prepared. After examining the May bank statement and items included with it, the company's accountant found the following items: Checks outstanding $2,550 Deposits outstanding 3,200 NSF check 240 Service Charges 70 Error: Money Corp. wrote a check for $115 but recorded it incorrectly for $1,150. What is the amount of cash that should be reported in the company's balance sheet as of May 31? $13,690 $12,425 $14,650 $14,725
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