The following data were gathered to use in reconciling the bank account of Lays Company: Balance per bank $ 17,800 Balance per company records 9,015 Bank service charges 25 Deposit in transit 3,000 Note collected by bank with $170 interest 5,200 Outstanding checks 6,610 a. What is the adjusted balance on the bank reconciliation? $ 14,190 Feedback a. Set up two sections: one for the company cash account section and the other for the bank balance section. Determine the effect of the data on each section. Recall that when you are finished, the adjusted balances in the bank and company sections of the reconciliation must be equal. If not, an item has been overlooked or treated in error. Learning Objective 5. b. Journalize any necessary entries for Lays Company based on the bank reconciliation. For a compound transaction, if an amount box does not require an entry, leave it blank. Miscellaneous Expense Cash Cash Notes Receivable Interest Revenue