Exercise - Bank reconciliation
The following data were accumulated for use in reconciling the bank account of Commander Co. for March:
1. Cash balance according to the company's records at March 31, $15,866.00.
2. Cash balance according to the bank statement at March 31, $14,750.00.
3. Checks outstanding, $4,760.00.
4. Deposit in transit, not recorded by bank, $5,870.00.
5. A check for $712.00 in payment of an account was erroneously recorded in the check register as $721.00.
6. Bank debit memo for service charges, $15.00.
Prepare a bank reconciliation.