Bank Reconciliation

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

Cash balance according to the company's records at July 31, $24,530.

Cash balance according to the bank statement at July 31, $25,820.

Checks outstanding, $4,980.

Deposit in transit, not recorded by bank, $4,000.

A check for $480 in payment of an account was erroneously recorded in the check register as $840.

Bank debit memo for service charges, $50.

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1. Prepare a bank reconciliation, using the format shown in Exhibit 7.

Maplewood Co.

Bank Reconciliation

July 31, 20--

Cash balance according to bank statement

$

$

Adjusted balance

$

Cash balance according to company's records

$

$

Adjusted balance

$

2. If the balance sheet were prepared for Maplewood Co. on July 31, what amount should be reported for cash?

$

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

P.S. ,I need you to put only one balance sheet last time you posted the answer it was like three boxes worth of gibberish I could barely understand I only need one sheet.