1. Bank Reconciliation

   The following data were accumulated for use in reconciling the bank account of Maplewood Co. for July 2016:

   1. Cash balance according to the company's records at July 31, 2016, $22,920.
   2. Cash balance according to the bank statement at July 31, 2016, $24,150.
   3. Checks outstanding, $4,650.
   4. Deposit in transit, not recorded by bank, $3,740.
   5. A check for $480 in payment of an account was erroneously recorded in the check register as $840.
   6. Bank debit memo for service charges, $40.

   1. Prepare a bank reconciliation, using the format shown in Exhibit 13.

   Maplewood Co.
   Bank Reconciliation
   July 31, 2016
   Cash balance according to bank statement	$fill in the blank 4e0d0302305cf90_1
   	fill in the blank 4e0d0302305cf90_3
   	$fill in the blank 4e0d0302305cf90_4
   	fill in the blank 4e0d0302305cf90_6
   Adjusted balance	$fill in the blank 4e0d0302305cf90_7
   Cash balance according to company's records	$fill in the blank 4e0d0302305cf90_8
   	fill in the blank 4e0d0302305cf90_10
   	$fill in the blank 4e0d0302305cf90_11
   	fill in the blank 4e0d0302305cf90_13
   Adjusted balance	$fill in the blank 4e0d0302305cf90_14

   2. If the balance sheet were prepared for Maplewood Co. on July 31, 2016, what amount should be reported for cash? $fill in the blank 8c097afd7010fcb_1

   3. Must a bank reconciliation always balance (reconcile)?