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The fobowing data were accumulated for use in reconcling the bank account of Creative Design...

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Accounting

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The fobowing data were accumulated for use in reconcling the bank account of Creative Design Co. for August 20 rg:- 1. Cash balance according to the company's records at August 31,$15,590. 2. Cash balance according to the bankistatement at August 31,516,700. 3. Checks outstsnding, $3,160. 1. Deposit in transit, not recorded ty bank, 52,540 . 5. A check for $170 in payment of an account was erroneously recorded in the check register as $710, 6. Bsnk debit memp for service charges, $50. a. Prepsre a bank reconcilation, using the format shown in Exhibit 13 b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash? c. Must a bank reconciliation always balance (reconcile)

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