The bookkeeper at Tony Company has asked you to prepare a bank reconciliation as of February 28, 2013. The February 28, 2013, bank statement and the February T-account for cash showed the following (summarized):

Tony Company's bank reconciliation at the end of January 2013 showed no outstanding
checks. No deposits were in transit at the end of January, but a deposit was in transit at the end of February.
Required:
1. Prepare a bank reconciliation for February.
2. Prepare any journal entries required as a result of the bank reconciliation. Why are they necessary?
3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?
4. If the company also has $50 on hand, which is recorded in a different account called Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of February?

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BANK STATEMENT Checks Deposits Other Balance, Febary 1, 2013 #101 $15,000 $ 7,000 NSF $320 41,080 #102 11,000 7 #103 #104 #105 12 14 9,500 9,000 14,150 27 28 Interest eamed 150 30,680 Service charge 30,640 Cash (A) Feb 1 Feb 2 Feb 13 Feb 21 Feb 28 Balance 49,400 7,00015,000 9,5001,000 4,1507,500 7,800 9,000 6,700 1,200 Feb 1 #101 Feb 7 #102 Feb 11#103 Feb 17 #104 Feb 25 #105 Feb 29 #106 Feb 28 Balance 37,450