You have been asked to prepare a reconciliation for the Jefferson Company. The March 31, 2023, bank statement and the March t-account for Cash showed the following (summarized): BANK STATEMENT Decreases Increases Balance Balance, March 1, 2023 $45,000 Deposits during March $50,000 95,000 Interest earned on the account 2,000 97,000 Checks cleared $49,000 48,000 NSF checkA. B. Wright 550 47,450 Bank service charges 50 47,400 Balance, March 31, 2023 47,400 Cash Beginning Balance 27,000 Checks written 49,000 Deposits 53,000 Additional information: 1. A comparison of checks written before and during March with the checks cleared through the bank showed outstanding checks at the end of March of $18,000 (including $8,000 written before March and $10,000 written during March). 2. There were no deposits in transit at the end of February, but a deposit was in transit at the end of March. Hint: it would be the difference between the $53,000 that the firm recorded as increases to cash during March less the $50,000 amount that the bank indicated as the total deposits in March.