Chesner Co. $5,430 $2,610 Bank Reconciliation July 31, 2014 Cash balance according to company's records Adjustments: Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $710 instead of $170 Note for $8,500 collected by bank, including interest Deposit in transit on July 31 Bank service charges Total adjustments Cash balance according to bank statement 540 8,840 (5,530) (40) 6,420 $11,850 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., use the Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to bank statement 11,850 Adjustments: Deposit in transit on July 31 5530 Bank Reconciliation July 31, 2014 Cash balance ackording to bank statement Adjustments: Deposit in transit on July 31 Outstanding checks 11,850 5530 Total adjustments Adjusted balance Cash balance according to company's records Error in recording Check No. 1056 as $710 instead of $170 Note for $8,500 collected by bank, including interest mi Total adjustments Adjusted balance b. If a balance sheet were prepared for Chesner Co. on July 31, 2014, what amount should be reported for cash