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 Reconciliation July 31, 20Y4 Cash balance according to company's records. Adjustments: Outstanding checks ...... Error by Chesner Co. in recording Check No. 1056 as $875 instead of $785.. Note for $15,000 collected by bank, including interest Deposit in transit on July 31.. Bank service charges.... Total adjustments... Cash balance according to bank statement.. $18,520 $ 4,780 90 15,600 (11,300) (45) 9,125 $27,645