Required Information [The following Information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $18,554. The unadjusted Cash account balance was $17,991. The following Information is available: 1. Deposit in transit: $2,470. 2. Credit memo in bank statement for Interest earned in June: $14. 3. Outstanding check: $3,034. 4. Debit memo for service charge: $15. Required a. Determine the true cash balance by preparing a bank reconciliation as of June 30, Year 1, using the preceding Information. (Amounts to be deducted should be indicated with minus sign.) Bank Reconciliation Unadjusted bank balance 6/30/Year 1 $ 18,554 Add: Deposit in transit Less: Outstanding check 2,470 (3,034) True cash balance 6/30/Year 1 $ 17,990 Unadjusted book balance 6/30/Year 1 Add: Credit memo for interest earned Less: Debit memo for service charge True cash balance 6/30/Year 1 14 (15) $ (1)