Problem 4-23 Bank reconciliation and internal control LO 4-1, 4-2 IThe following information applies to the questions displayed below.J Following is a bank reconciliation for Pizza Express for May 31, 2014: Cash Bank Account Statement $24.850 $21,825 Balance as of 5/31/2014 Deposit in transit 4,325 Outstanding checks 375) Note collected by bank 1,450 25) Bank service charge (500) Automatic payment on loan $25.775 $25,775 Adjusted cash balance as of 5/3V2014 Because of limited funds, Pizza Express employed only one accountant who was responsible for receiving cash, recording receipts and disbursements, preparing deposits, and preparing the bank reconciliation. The accountant left the company on June 8, 2014, after preparing the May 31 bank reconciliation. His replacement compared the checks returned with the bank statement to the cash disbursements journal and found the total of outstanding checks to be $4,320