RECONCILIATION AND JOURNAL ENTRIES (20 points) - Prepare a reconciliation and journalize the entries required to correct the companys cash balance on the books using the following data that were accumulated for use in reconciling the cash on the books with the bank account of Swift Ready Mart for November 2017:

1. Outstanding checks total $4,200.

2. The book balance is $27,000 at November 30, 2017.

3. The bank balance at November 30, 2017 was $32,000.

4. The bank service charge is $50.

5. A customer's check for $600 was returned for nonsufficient funds. The customer had given the Swift Ready Mart the check in payment of an account receivable.

6. The bank collected some rent paid to Swift Ready Mart by EFT in the amount of $3,850 and deposited the cash in Swift Ready Marts account at the bank but Swift Ready Mart has not yet entered the amount in the books.

7. A deposit of $2,400 is in transit.