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BANK RECONCILIATION - (similar to E5-6) The December 31st bank statement for a company and...

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BANK RECONCILIATION - (similar to E5-6) The December 31st bank statement for a company and the December account ledger for cash are summarized here: No outstanding checks and no deposits in transit were noted in November (the previous month). However, there are outstanding checks and deposits in transit at the end of December. The NSF check and EFT involved transactions with the company's customers. 1) Prepare the bank reconciliation 2) Record any necessary journal entries that should be made as the result of this bank reconciliation. 3) What should the balance in the Cash account be after recording the journal entries in #2

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