The September 30, 2011, bank statement for Russell Company and the September ledger accounts for cash are summarized here:

No outstanding checks and no deposits in transit were carried over from August; however, there are deposits in transit and checks outstanding at the end of September.

Required:
1. Reconcile the bank account.
2. Give any journal entries that should be made as the result of the bank reconciliation.
3. What should the balance in the Cash account be after the reconciliation entries?
4. What total amount of cash should the company report on the September 30 balancesheet?

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BANK STATEMENT Checks Deposits Balance Balance, September 1.2011 Deposits recorded during September Checks cleared during September NSF checks- Betty Brown Bank service charges Balance, September 30, 2011 6,000 33.400 5,000 4830 4.770 4.,770 $27.400 $28,400 170 60 Sept1 Balance Sept Deposits Cash (A) 6,000 Sept Checks written 28,900 28,600