Bank FR liation The following data were accumulated for use in recondiling the bank account of July: Co. for 1. Cash balance according to the company's records at July 31 $23,440. 2. Cash balance 3. Checks outstanding, $4,760. 4. Deposit in transit, not recorded by bank, $3,820. 5. A check for $270 in payment of an account was according to the bank statement at July 31, $24,790. erroneously recorded in the check register as $720. 6. Bank debit memo for service charges, $40. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. Mathers Co. Bank Reconciliation July 31 Cash balance according to bank statement Add deposit in transit, not recorded by bank Deduct outstanding checks Adjusted balance Cash balance according to company's records 24.790 3,280