Help Save & Ext Submit On August 31, Year 1, the general ledger of a company shows a balance for cash of $7.914. Cash receipts yet to be deposited into the checking account total $3,308, and checks written by the academy but not yet processed by the bank total $1,395. The company's balance of cash does not reflect a bank service fee of $32 and interest earned on the checking account of $43. These amounts are included in the balance of cash of $6,012 reported by the bank as of the end of August Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, Year 1. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per Bank Statement Deposits Outstanding Checks Outstanding Bank Reconciliation August 31, Year 1 Company's Cash Balance $ 6,012 Per General Ledger 3.300 Service Fees (1.395 Interest Eamed Bank Balance per Reconciliation $ 7.925 Company Balance per Reconciliation 2. Record the necessary entrylles) to adjust the balance for cash. (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet