On August 31, 2024, the general ledger of Knifepoint Cutlery shows a balance for cash of $7,800. Cash receipts yet to be deposited into the checking account total $3,258. The companys balance of cash does not reflect a debit card payment for the purchase of postage expense ($86) or an electronic funds transfer for rent expense ($1,315). The bank statement also revealed the company recorded a debit card transaction for supplies of $411, but the actual amount was $511. These amounts are included in the balance of cash of $3,041 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, 2024