Required information 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 Checks Deposits Other Date Dec. 1 6 11 17 23 26 30 31 31 $ 7,660 590 $28,000 15,900 36,000 590 22,000 19,000 Balance $ 52,800 45, 140 72,550 56,650 92,650 92,060 88, 720 88, 790 88,600 NSF* Interest earned Service charge $340 70 190 * NSF check from J. Left, a customer. Dec. 1 Balance Deposits Dec. 11 23 30 31 Cash (A) 52,800 Checks written during December: 28,000 7,660 36,000 590 19,000 15,900 13,000 590 190 22,000 5,100 96,770 Dec. 31 Balance There were no deposits in transit or outstanding checks at November 30. 3. Prepare a bank reconciliation for December. STEWART COMPANY Bank Reconciliation At December 31 Bank Statement $ Ending Balance Per Bank Statement Additions: Deposit in Transit Company's Books 88,600 Ending Balance Per Cash Account Additions: $ 13,000 0 13,000 101,600 0 Deductions: Deductions: Outstanding Checks 0 0 Up-to-Date Cash Balance $ 101,600 Up-to-Date Cash Balance $ 0 PA5-3 Part 5 and 6 5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? 6. If the company also has $340 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the December 31 balance sheet? 5. Balance in Cash Account 6. Total Amount of Cash and Cash Equivalents