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 $8,260 Adjustments: Outstanding checks $3,960 Error by Chesner Co. in recording Check No. 1056 as $820 instead of $280 540 Note for $13,000 collected by bank, including interest 13,520 Deposit in transit on July 31 (8,410) Bank service charges (30) Total adjustments 9,580 Cash balance according to bank statement $17,840 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 $ 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, 20Y4, what amount should be reported for cash? $

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			$8,260
Adjustments:
Outstanding checks	$3,960
Error by Chesner Co. in recording Check
No. 1056 as $820 instead of $280	540
Note for $13,000 collected by bank, including interest	13,520
Deposit in transit on July 31	(8,410)
Bank service charges	(30)
Total adjustments			9,580
Cash balance according to bank statement			$17,840

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		$
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, 20Y4, what amount should be reported for cash? $