Group Exercise: Roper Electronics received its bank statement for the month of August with an ending balance of $11,740.00. Roper determined that check #613 for $155.00 and check #601 for $420.00 were both outstanding. Also, a $6,900.00 deposit for August 30th was in transit as of the end of the month. Northern Regional Bank also collected a $5,000.00 notes receivable on August 1st that was a issued March 1st at 12% annual interest. No interest revenue has been accrued on this note and Northern Regional Bank charged a $35.00 fee for the collection service. The bank statement reveals a bank service charge of $20.00. A customer check for $68.00 was returned with the bank statement marked "NSF". The ending balance of the Roper cash account is $12,938.00. Complete a bank / account reconciliation Bank balance August 31: Add deposits in transit Less outstanding checks Adjusted balance - bank: Company balance August 31: Add N/R Interest Revenue Less collection fee Less bank service charge Less NSF check Adjusted balance - company Question 1 From the group exercise, what is the amount of adjusted cash balance per bank and per company: $5,000 O $11,740 $12,938 $18.065 Question 2 From the group exercise, what is the total value of outstanding checks: O $155 $575 0 $420 $6,900 Question 3 From the group exercise, how is the collection fee treated in the bank reconciliation? Deducted from company balance. O Added to company balance. Deducted from bank balance. 0 Added to bank balance. Question 4 During a bank reconciliation process, O Outstanding checks and deposits in transit are added to the bank statement balance. Outstanding checks are subtracted and deposits in transit are added to the bank statement balance. Outstanding checks and deposits in transit are subtracted from the bank statement balance. Outstanding checks are added and deposits in transit are subtracted from the bank statement balance