Using the following information: The bank statement balance is $5,002. The cash account balance is $5,487. Outstanding checks amounted to $722. Deposits in transit are $1,178. The bank service charge is $20. A check for $69 for supplies was recorded as $60 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co.Bank ReconciliationMay 31 Cash balance according to bank statement   $fill in the blank 1 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 6 Adjusted balance   $fill in the blank 7 Cash balance according to company's records   $fill in the blank 8 Adjustments:       $- Select -     - Select -   Total adjustments   fill in the blank 13 Adjusted balance   $fill in the blank 14

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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.