Bank Reconciliation The following data were gathered to use in reconciling the bank account of McCurdy Company: Balance per bank $ 17,200 Balance per company records 7,255 Bank service charges 45 Deposit in transit 2,500 5,500 Note collected by bank with $120 interest Outstanding checks 6,990 a. What is the adjusted balance on the bank reconciliation? Feedback Check My Work a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. b. Journalize any necessary entries for McCurdy Company based on the bank reconciliation. If an amount box does not require an entry, leave it blank. Miscellaneous Expense Cash Cash Accounts Payable Interest Revenue