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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 $1$ $ $58,800$

December $6$ $ $7,71051,090$

December $11640$ $ $28,00078,450$

December $1718,40060,050$

December $2337,00097,050$

December $2664096,410$

December $3025,50019,000$ NSF$*$ $ $39089,520$

December $31$ Interest earned $9589,615$

December $31$ Service charge $24089,375$

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

Cash $($A$)$

Debit Credit

December $1$ Balance $58,800$

Deposits Checks written during December:

December $1128,0007,710$

December $2337,000640$

December $3019,00018,400$

December $3114,000640$

$240$

$25,500$

$5,850$

December $31$ Balance $97,820$

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