Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance according to the company's records at August 31, $25,340. Cash balance according to the bank statement at August 31, $26,740. Checks outstanding, $5,140. Deposit in transit not recorded by bank, $4,130. A check for $270 in payment of an account was erroneously recorded in the check register as $720. Bank debit memo for service charges, $60. Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash. a. 20Y6 Aug 31 b. Aug 31

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.