The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31$25,910. 2. Cash balance according to the bank statement at July 31,$27,430. 3. Checks outstanding, $5,260. 4. Deposit in transit, not recorded by bank, $4,220. 5. A check for $170 in payment of an account was erroneously recorded in the check register a5 $710. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. 4. Deposit in transit, not recorded by bank, $4,220. 5. A check for $170 in payment of an account was erroneously recorded in the check register as $710. 6. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. b. If the balance sheet is prepared for Mathers Co. on July 31 , what amount should be reported for cash? c. Must a bank teconciliation always balance (reconcile)