Bank ReconciliationAn accounting clerk for Chesner Co$.$ prepared the following bank reconciliation:Chesner Co$.$ Bank Reconciliation August $31$ Cash balance according to company's records $$5,240$Add: Outstanding checks$$2,520$ Error by Chesner Co$.$ in recording Check No$.1056$ as $$820$ instead of $$280540$ Note for $$8,200$ collected by bank, including interest$8,53011,590$ $$16,830$Deduct: Deposit in transit on August $31$$$5,330$ Bank service charges$705,400$Cash balance according to bank statement $$11,430$Question Content Areaa. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co$.,$ using the format shown in the Exhibit $12.$Chesner Co$.$Bank ReconciliationAugust $31$Cash balance according to bank statement$fill in the blank $7$c$91$ca$038$fa$205$c$\_1-$ Select $--$ Select $-$Adjusted balance$fill in the blank $7$c$91$ca$038$fa$205$c$\_6$Cash balance according to company's records$fill in the blank $7$c$91$ca$038$fa$205$c$\_7$$$-$ Select $--$ Select $--$ Select $--$ Select $-$Adjusted balance$fill in the blank $7$c$91$ca$038$fa$205$c$\_15$Question Content Areab. If a balance sheet were prepared for Muskegon Co$.$ on May $31,2016,$ what amount should be reported for cash?$fill in the blank a$144$f$7$fb$3$fde$004\_1$