The December 31, 2011, bank statement for Packer Company and the December 2011 ledger accounts for cash follow. Bank Statement Date Checks Deposits Balance Dec.1 $48,000 2 $400;300 $17,000 64,300 4 7,000;90 57,210 6 120;180; 1,600 55,310 11 500; 1,200; 7028,000 81,540 13 480;700; 1,900 78,460 17 12,000; 8,000 58,460 23 60; 23,500 36,000 70,900 26 900; 2,650 67,350 28 2,200; 5,200 59,950 3017,000; 1,890; 300* 19,000 59,760 311,650; 1,350; 150** 5,250*** 61,860 *NSF check, J. left, a customer **Bank service charge ***Interest collected Cash(A) Dec 1 Balance 64,100 Deposits Dec. 11 28,000 23 36,000 30 19,000 31 13,000 Cash(A) Checks written during december: 60 5,000 2,650 17,000 5,200 1,650 700 1,890 2,200 3,300 1,6007,000 1,350 120 300 180 90 480 12,000 23,500 8,000 70 500 1,900 9001,200 The November 2011 bank reconciliation showed the following: correct cash balance at November 30, $64,100; deposits in transit on November 30, $17,000; and outstanding checks on November 30, $400+$500= $900 Required: 1. Compute the deposits in transit December 31, 2011, by comparing the deposits on the bank statment to the deposits listed on the cash ledger account and the list of deposits in transit at the end of November. 2. Compute the outstanding checks at December 31, 2011, by comparing the checks listed on the bank statement with those on the cash ledger account and list of outstanding checks at the end of November. 3. Prepare a bank reconciliation at December 31, 2011. 4. Give any journal entries that should be made as a result of the bank reconciliation made by the company. Why are they necessary? 5. What total amount of cash should be reported on the December 31, 2011, balance sheet?