EX 7-21 Bank reconciliation Obj. 5 An accounting clerk for Chesner Co. prepared the following bank reconciliation Chesner Co. Bank Reconciliation July 31, 2014 Cash balance according to company's records... $18,520 Adjustments: Outstanding checks.. $ 4,780 Error by Chesner Co. in recording Check No. 1056 as $875 instead of $785... Note for $15,000 collected by bank, including interest 15,600 Deposit in transit on July 31.... (11,300) Bank service charges ... (45) Total adjustments.. 9,125 Cash balance according to bank statement $27,645 a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Let's Review section. b. If a balance sheet were prepared for Chesner Co. on July 31, 2014, what amount should be reported for cash