Athens, Inc.'s June bank statement shows a June 30 balance of $18,100. Prior to reconciliation, its books show a cash balance of $18,420. The information below pertains to Athens:
Deposits in transit
$1,400
Checks outstanding
960
Bank service charges
40
Error in Athens Inc.'s records overstating cash disbursement
180
Check of another company charged erroneously against
Athens Inc.'s bank account
500
Bank statement shows bank collected a note receivable
and interest income for Athens Inc.
480
The reconciled cash balance at June 30 on the bank reconciliation should be:
Select one:
A. $18,680
B. $18,540
C. $20,200
D. $19,040
D. $19,040
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