3. Bob's Vitamins has just completed its first month of business and Bob has received his first bank statement and needs to reconcile it. Below are the bank statement and Bob's Cash Account, along with the details that went into creating the cash account. Can you help him reconcile the two? Hint: The process of reconciling bank balance and book balance is quite simple. Add (subtract) to the bank balance those things that you know about account that the bank does not know. Add (Subtract) to your book balance those things that the bank knows about your account that you do not know until reported by the bank. Sparta Community Bank 123 East Main Street Sparta, Illinois Bob's Vitamins 223 West Market Street Sparta, Illinois BUSINESS ACCOUNT 03-4538245 Balance Last statement 10000 Deposits Withdrawals 10856 6808 Balance This Statement 14048 Deposits/Credits 3-Mar 1685 10-Mar 2465 17-Mar 2899 20-Mar 325 Direct deposit 24-Mar 3450 31-Mar 32 Interest paid Checks 561 1001 25 1002 200 1004 4560 1005) 200 1006 1008|1500 10101 200 1011 24 Other withdrawals/debits INSF check 43 Bob's Vitamins Cash Account Summary for The Month of March, 20XX March 1 Balance March Deposits March Checks March 31 Balance 10,000 13,152 (7,729) 15,423 1685 25 2001 38 2465 4560 200 56 Details 3-Mar Deposit Check 1001 Check 1002 Check 1003 10-Mar Deposit Check 1004 Check 1005 Check 1006 17-Mar Deposit Check 1007 Check 1008 Check 1009 24-Mar Deposit Check 1010 Check 1011 31-Mar Deposit Check 1012 2899 526 1500 200 3450 200 24 2653 200 Fill in the blank. Bob's Vitamins Reconciliation of bank and book balance at March 31, 20XX Bank Balance Ending Balance, March 31 $_ Additions: Deposit in transit $ Subtraction Checks outstanding ($ Total Book Balance Ending book balance, March 31 $ Additions: Direct deposit $ Interest earned $ Subtractions NSF check returned ($ Total $ $ Correct cash balance $15, Correct cash balance $15