Bonita Company has just received the August 31, 2020, bank statement, which is summarized below.

County National Bank		Disbursements			Receipts		Balance
Balance, August 1							$13,445
Deposits during August					$46,207		59,652
Note collected for depositor, including $57 interest					1,492		61,144
Checks cleared during August		$49,508					11,636
Bank service charges		29					11,607
Balance, August 31							11,607

The general ledger Cash account contained the following entries for the month of August.

Cash
Balance, August 1		14,422	Disbursements in August		50,103
Receipts during August		50,225

Deposits in transit at August 31 are $5,453, and checks outstanding at August 31 total $1,507. Cash on hand at August 31 is $445. The bookkeeper improperly entered one check in the books at $146 which was written for $155 for supplies (expense); it cleared the bank during the month of August.

Prepare a bank reconciliation dated August 31, 2020, proceeding to a correct balance.

Prepare any entries necessary to make the books correct and complete.

What amount of cash should be reported in the August 31 balance sheet?

Cash to be reported in the August 31 balance sheet