The following information was taken from a company's bank reconciliation at the end of the year:
Bank Balance: $8,000
Checks Outstanding: $5,800
Note Collected by the Bank: $1,500
Service Fee: $20
Deposits Outstanding: $4,000
NSF Check from a Customer: $300
What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?
A) $6,200.
B) $10,200.
D) $7,400
C) $6,160