Bank Reconciliation The following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 17,950 Balance per company records 10,850 Bank service charges 40 Deposit in transit 4,000 Note collected by bank with $100 interest 4,700 Outstanding checks 6,440 a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Lays Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Short and Over Cash Miscellaneous Expense