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The red is all incorrect On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,944. Cash

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The red is all incorrect

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,944. Cash receipts yet to be deposited into the checking account total $3,338, and checks written by the academy but not yet processed by the bank total $1,425. The company's balance of cash does not reflect a bank service fee of $35 and interest earned on the checking account of $46. These amounts are included in the balance of cash of $6,042 reported by the bank as of the end of August Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) THE DEAN ACTING ACADEMY Bank Reconciliation August 31, 2021 Bank's Cash Balance Company's Cash Balance Per General Ledger 7,944 Per Bank Statement 6,042 Service Fees (35) Deposits Outstanding 3,338 46 Checks Outstand ing (1,425) Interest Earned Company Balance per Reconciliation 7,955 Bank Balance per Reconciliation 7,955 2. Record the necessary entry(ies) to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date General Journal Debit Credit Service Fee Expense 35x August 31, 2021 1 X 35X Cash 46X August 31, 2021 2 Cash 46 x Interest Revenue

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