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QUESTION
Solid Company has a reconciled cash balance of $7,320.
Solid Company has a reconciled cash balance of $7,320. The bank reconciliation reflects $554 in outstanding checks, debit memoranda of $57, credit memoranda of $97 and a bank error that, when corrected, increases the bank cash balance by $52. What is the cash balance per the bank statement before taking into account any reconciling items?
