Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $17,700. 2. Cash balance according to the bank statement at August 31, $18,880. 3. Checks outstanding, $3,590. 4. Deposit in transit, not recorded by bank, $2,890. 5. A check for $170 in payment of an account was erroneously recorded in the check register as $710. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2016 Cash balance according to bank statement 18.880 Add: Outstanding checks x -3,590 X Deduct: Deposit in transit on August 31 x 2,890 X 17.700 X Adjusted balance 17.700 Cash balance according to company's records Add: Outstanding checks x 3,590 Deduct: Deposit in transit on August 31 x -2.890 18,880 X Adjusted balance