Brief Exercise 4-9 Reconcile timing differences in the bank's balance (L04-5) Damon Company receives its monthly bank statement, which reports a balance of $1,500. After comparing this to the company's cash records, Damon's accountants determine that deposits outstanding total $2,200 and checks outstanding total $2,450. Required: Calculate the reconciled bank balance for cash. (Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. Bank balance Deposits outstanding Checks outstanding Reconciled bank balance 1,500 2,200 2,450 1,250