Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. $7,930 Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $710 instead of $170 Note for $12,500 collected by bank, including interest $3,810 540 13,000 17,350 $25,280 $8,070 Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement 40 8,110 $17,170 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the illustrative problem. Chesner Co. Bank Reconciliation August 31 Cash balance according to bank statement 14.010 X Adjusted balance Cash balance according to company's records Adjusted balance Feedback b. If a balance sheet were prepared for Muskegon Co. on May 31, 2016, what amount should be reported for cash? Feedback Feedback Check My Work Previous Next >