Prepare a new bank reconciliation for Chesner Co

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Reference no: EM132801981

Question - An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. August 31 Bank Reconciliation

Cash balance according to company's records $4,890

Add: Outstanding checks $2,350

Error by Chesner Co. in recording Check No. 1056 as $830 instead of $380450

Note for $7,700 collected by bank, including interest 8,010 10,810 $15,700

Deduct: Deposit in transit on August 31$4,980

Bank service charges 70 5,050

Cash balance according to bank statement $10,650

Required - From the data in this bank reconciliation, prepare a new bank reconciliation for Chesner Co., using the format shown in the illustrative problem.

Reference no: EM132801981

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