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Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: $4,920 $2,360 Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according
Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: $4,920 $2,360 Chesner Co. 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 $710 instead of $170 Note for $7,700 collected by bank, including interest Deposit in transit on July 31 Bank service charges Total adjustments Cash balance according to bank statement 540 8,010 (5,010) (40) 5,860 $10,780 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
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