$5$ The following data were accumulated for use in reconciling the bank account of Nakajima Co$.$ for July: $1.$ Cash balance according to the company$$s records at July $31,$ $$49,910.2.$ Cash balance according to the bank statement at July $31,$ $$48,250.3.$ Checks outstanding, $$4,460.4.$ Deposit in transit, not recorded by bank, $$6,450.5.$ A check for $$590$ issued in payment of an account was erroneously recorded in the check register as $$950.6.$ Bank debit memo for service charges, $$30.$ a$.$ Prepare a bank reconciliation, using the format shown in Exhibit $12.$ b$.$ If the balance sheet is prepared for Nakajima Co$.$ on July $31,$ what amount should be reported for cash? c$.$ Must a bank reconciliation always balance $($reconcile$)?$ EX $8-19$ Entries for bank reconciliation OBJ. $5$ Using the data presented