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In preparing to perform Royale, Inc.'s January bank reconciliation, its accountant determined that as of January 31, the company's cash balance was \$20,500 while the bank's balance was \$18,525. Further, the accountant gathered the following additional data:

1 Deposit in transit \$7,500
2 Outstanding checks 9,000
3 Bank service charges 75
4 NSF check 3,400

What is the adjusted cash balance on the bank reconciliation?

A

\$20,025

B

\$17,025

C

\$22,000

D

\$19,000

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