Using the data presented in Exercise 8-18, journalize the entry or entries that should be made by the company.

Data From Exercise 8-18:

The following data were accumulated for use in reconciling the bank account of Zek’s Co. for May 2016:

1. Cash balance according to the company’s records at May 31, 2016, $22,110.
2. Cash balance according to the bank statement at May 31, 2016, $29,650.
3. Checks outstanding, $13,875.
4. Deposit in transit, not recorded by bank, $6,770.
5. A check for $50 in payment of an account was erroneously recorded in the check register as $500.
6. Bank debit memo for service charges, $15.
a. Prepare a bank reconciliation, using the format shown in Exhibit 13.
b. If the balance sheet were prepared for Zek’s Co. on May 31, 2016, what amount should be reported for cash?
c. Must a bank reconciliation always balance (reconcile)?