An accounting clerk for Chesner Co. prepared the following bank reconciliation:

a. From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the Let's Review section.

b. If a balance sheet were prepared for Chesner Co. on July 31, 20Y4, what amount should be reported for cash?

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Chesner Co. Bank Reconsolidation July 31, 20Y4 Cash balance according to company's records $11,100 Adjustments: $ 3,585 Outstanding checks Error by Chesner Co. in recording Check No. 1056 as $950 instead of $590.. . 360 Note for $12,000 collected by bank, including interest 12,480 Deposit in transit on July 31 - (7,200) Bank service charges (25) Total adjustments . 9,200 Cash balance according to bank statement S20,300