Bank Reconciliation

An accounting clerk for Chesner Co. prepared the following bank reconciliation:

Chesner Co.
Bank Reconciliation
July 31, 20Y4
Cash balance according to company's records			$5,410
Adjustments:
Outstanding checks	$2,600
Error by Chesner Co. in recording Check
No. 1056 as $820 instead of $280	540
Note for $8,500 collected by bank, including interest	8,840
Deposit in transit on July 31	(5,510)
Bank service charges	(50)
Total adjustments			6,420
Cash balance according to bank statement			$11,830

Question Content Area

a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the format shown in the Lets Review section

Chesner Co. Bank Reconciliation July 31, 20Y4

Cash balance according to bank statement		$fill in the blank 4e6f6cff5fa9f9e_1
Adjustments:	blank	blank
Deposit in transit on July 31Error in recording Check No. 1056 as $820 instead of $280Note for $8500 collected by bank, including interestOutstanding checks	$- Select -	blank
Deposit in transit on July 31Error in recording Check No. 1056 as $820 instead of $280Bank service chargesOutstanding checks	- Select -	blank
Total adjustments	blank	fill in the blank 4e6f6cff5fa9f9e_6
Adjusted balance		$fill in the blank 4e6f6cff5fa9f9e_7
Cash balance according to company's records		$fill in the blank 4e6f6cff5fa9f9e_8
Deposit in transit on July 31Error in recording Check No. 1056 as $820 instead of $280Add bank service chargesOutstanding checks	$- Select -
Deposit in transit on July 31Note for $8,500 collected by bank, including interestBank service chargesOutstanding checks	- Select -	blank
Error in recording Check No. 1056 as $820 instead of $280Note for $8500 collected by bank, including interestBank service chargesOutstanding checks	- Select -	blank
Total adjustments	blank	fill in the blank 4e6f6cff5fa9f9e_15
Adjusted balance		$fill in the blank 4e6f6cff5fa9f9e_16

Question Content Area

b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reported for cash? $fill in the blank 6903e901f00df81_1