Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation July 31, 2014 $5,340 Cash balance according to company's records Adjustments: Outstanding checks $2,560 Error by Chesner Co. in recording Check No. 1056 as $940 instead of $490 450 Note for $8,400 collected by bank, including interest 8,740 Deposit in transit on July 31 (5,440) (30) Bank service charges Total adjustments 6,280 Cash balance according to bank statement $11,620 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the format shown in the Let's Review section Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Total adjustments Adjusted balance b. If a balance sheet were prepared for Chesner Co. on July 31, 2014, what amount should be reported for cash