PART III. Using the following information for Young Company on June 30, 20XX, prepare a bank reconciliation and record the adjusting journal entries necessary to update the books. (a) The bank statement balance is $4,690 (b) The cash account balance is $5,080. (c) Outstanding checks, check #400, $500 and check #511, $215. (d) Deposits in transit are $1,020. (e) The bank service charge is $40. (f) A check for $72 for supplies was recorded as $27 in the ledger. 4 | Page Mrs. Olive M T # 4 ch. 7 & 8 2020 Adjusting Journal Entries: Account Dr