Cottage Company deposits all cash receipts on the day they are received, and it makes all cash payments by check. At the close of business on December 31 , its Cash account shows a debit balance of $18,623. The company's bank statement as of December 31 shows an ending cash balance of $16,021. The following information was also available. - Outstanding checks as of December 31 total $2,311. - Included with the bank statement was a debit memo in the amount of $85 for service charges. - Check Number 2519 , listed with the canceled checks, was correctly drawn for $855 in payment of a utility bill on December 16. The company mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $950. - The December 31 cash receipts of $3,575 were placed in the bank's night depository after banking hours and were not recorded on the December 31 bank statement. - The bank deducted \$1,348 for an NSF check from a customer deposited on December 10. Required: Prepare the bank reconciliation as of December 31
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