Monty Company has just received the August 31, 2017, bank statement, which is summarized below. County National Bank Disbursements Receipts Balance Balance, August 1 $14,962 Deposits during August $51,423 66,385 Note collected for depositor, including $64 interest 1,661 68,046 Checks cleared during August $55,097 12,949 12,917 Bank service charges 32 Balance, August 31 12,917 The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 16,050 Disbursements in August 55,752 Receipts during August 55,895 Deposits in transit at August 31 are $6,069, and checks outstanding at August 31 total $1,677. Cash on hand at August 31 is $495. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Prepare a bank reconciliation dated August 31, 2017, proceeding to a correct balance