Exercise 4-46 (Algorithmic) Bank Reconciliation Valentine Investigations has the following information for its cash account Balance, 1/31 Deposits during February Checks written during February Valentine's bank statement for February contained the following information Balance, 1/31 Add: February deposits $9,091 106,780 102,341 $10,557 104,950 $115,507 Less: Checks paid in February $101,400 Bank service charge Debit memo (electric bill) Balance per bank, 2/28 A comparison of company records with the bank statement provided the following data 50 800 102,250 $13,257 At 1/31 $2,750 4,216 At 2/28 $4,580 5,157 Deposits in transit Outstanding checks Required 1. Prepare a bank reconciliation as of February 28 Valentine Investigations Bank Reconciliation February 28 Cash balance from bank statement Adjusted cash balance Cash balance from company records Less: Adjusted cash balance