PA5-3 Identifying Outstanding Checks and Deposits in Transit and preparing a Bank Reconciliation and Journal Entries [LO 5-4, LO 5-5] [The following information applies to the questions displayed below.] The December bank statement and cash T-account for Stewart Company follow: BANK STATEMENT Deposits Other Checks Date Dec. 1 2 4 6 $ 520 7.560 130 11 570 $ 28,000 2,020 13,000 17 23 Balance $50,400 49,880 42,320 42,190 69,620 67,600 54,600 90,520 89,600 87,200 87,480 85,730 85,560 36,000 26 920 28 2,400 30 18,400 311,810 19,000 NSF* Interest earned Service charge $320 60 170 *NSF check from J. Left, a customer. Cash (A) 50,400 Dec. 1 Balance Deposits Dec. 11 80 23 28,000 36,000 19,000 13,000 Checks written during December: 520 7,560 130 570 2,020 13,000 2,400 920 170 18,400 4,800 1,810 Dec. 31 Balance 94,020 There were no deposits in transit or outstanding checks at November 30. PA5-3 Part 3 3. Prepare a bank reconciliation for December STEWART COMPANY Bank Reconciliation At December 31 Company's Books Ending Balance Per Cash Account Additions: Bank Statement Ending Balance Per Bank Statement Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance PA5-3 Part 4 4. Prepare any journal entries that the company should make as a result of the bank reconciliation. (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