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Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records
Bank Reconciliation An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31 Cash balance according to company's records Add: Outstanding checks $3,410 Error by Chesner Co. In recording Check No. 1056 as $710 instead of $170 Note for $11,200 collected by bank, Including interest 11,650 $7,110 540 15,600 $22,710 Deduct: Deposit in transit on August 31 Bank service charges Cash balance according to bank statement $7,240 50 7,290 $15,420 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. 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 Adjusted balance Cash balance according to company's records Duo diui 00 Adjusted balance b. If a balance sheet were prepared for Muskegon Co. on May 31, 2016, what amount should be reported for cash
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