Bank Reconciliation A properly prepared bank reconciliation explains the causes for any differences between a company's account balance on its bank statement and its cash balance in the ledger Allez Company discovers that its monthly bank statement account balance, $5,734.85, does not equal the cash balance in its ledger, $5,015.36 A thorough bank reconciliation investigation yields the following information: The bank erroneously recorded a check written by the company for $338.67 as $388.67. The company erroneously recorded a check it wrote for $357.36 as $537.36. The company recently made a $662.99 deposit that has not yet been recorded on the bank statement The bank collected a $530.00 note receivable, plus $11.00 in interest, which had not been recorded in the company's journal. Bank service charges of $15.00 have been assessed to the customer's account. There are two checks outstanding (not yet recorded by the bank) that were written for $772.78 and $489.57, A $535.87 check from a customer, Phil Conners, was returned by the bank because of insufficient funds (NSF) in the customer's account