Use the following information for Woods Paper Products to prepare a bank reconciliation and the related journal entries:

A deposit of $7,694.62 is in transit

Outstanding checks total $2,433.25

The book balance is $7,695.62

The bookkeeper recorded a $1,524.00 check as $15,240.00 in payment of the currents months rent.

The bank balance at November 30,2015 was $17,500.25

A deposit of $1,400 was credited by the bank for $4,100

A customers check for $1,280 was returned for nonsufficient funds

The bank service charge is $70