Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. $11,100 Bank Reconciliation July 31, 2014 Cash balance according to company's records Adjustments: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $950 instead of $590 $3,585 Note for $12,000 collected by bank, including interest Deposit in transit on July 31 360 12,480 (7,200) (25) Bank service charges Total adjustments Cash balance according to bank statement 9,200 $20,300 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 20,100 Adjustments: Deposit in transit on July 31 Outstanding checks Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Error in recording Check No. 1056 as $950 Instead of $590 Note for $12,000 collected by bank, Including interest Bank service charges 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