1. BE.07.05 ALGO Bank Reconciliation 2. EX.07.18.ALGO 3 EX OF 19 ALGO 4. EX.07.24 ALGO The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $21,280. 2. Cash balance according to the bank statement at August 31, $22,430. 3. Checks outstanding, $4,320. 4. Deposit in transit, not recorded by bank, $3,470. 5. A check for $480 in payment of an account was erroneously recorded in the check register as $840. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co Band Reconciation August 2016 Cash balance according to a statement Cash balance according to company's records b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash? c. Must a bank reconciliation always balance (reconcile)