The Ryan Manufacturing Company received its bank statement for the month ending May 31. The bank statement indicates a balance of $32,400. The cash account as of the close of business on May 31 has a balance of $8,350. In reconciling the balance, the following items are discovered.

a) Collection by bank of note for $1,500 less collection fees of $250 b) Deposits in transit, $51,000. c) The bank charged the depositor $800 for overdrafts. d) Checks outstanding on May 31, $79,100 e) A canceled check issued to Kate Corp. for $4,500 was not recorded on Ryan Manufacturing Company's books.

Prepare a bank reconciliation statement. (Use the format of reconciling bank and depositor figures to corrected cash balance.)