As of May 31, 2014, the bank statement showed an ending balance of $17,470. The unadjusted Cash account balance was $16,360. The following information is available: 1. Deposit in transit, $2,265. 2. Credit memo in bank statement for interest earned in May, $20. 3. Outstanding check, $3,368. 4. Debit memo for service charge, $13. Required Determine the true cash balance by preparing a bank reconciliation as of May 31, 2014, using the preceding information. Bank Reconciliation May 31, 2014 Unadjusted bank balance, May 31, 2014 $17,470 Add: Deposit in transit $2,265 Outstanding check 2,265 19,735 Less: Outstanding check 0 True cash balance, May 31, 2014 $19,735 Unadjusted book balance, May 31, 2014 Add: Credit memo for interest earned 0 Less: 0 Debit memo for service charge 0 True cash balance, May 31, 2014 $0