PA$5-3($Algo$)$ Identifying Outstanding Checks and Deposits in Transit and Preparing a Bank Reconciliation and Journal Entries $[$LO $5-4,$ LO $5-5]$

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The December bank statement and cash T$-$account for Stewart Company follow:

BANK STATEMENT

Date Checks Deposits Other Balance

December $1$ $ $57,600$

December $6$ $ $7,70049,900$

December $11630$ $ $28,00077,270$

December $1717,90059,370$

December $2337,00096,370$

December $2663095,740$

December $3024,80019,000$ NSF$*$ $ $38089,560$

December $31$ Interest earned $9089,650$

December $31$ Service charge $23089,420$

$*$ NSF check from J$.$ Left, a customer.

Cash $($A$)$

Debit Credit

December $1$ Balance $57,600$

Deposits Checks written during December:

December $1128,0007,700$

December $2337,000630$

December $3019,00017,900$

December $3114,000630$

$230$

$24,800$

$5,700$

December $31$ Balance $98,010$

There were no deposits in transit or outstanding checks at November $30.$