) compute the March 31 reconciled cash balance of the Elbert Company. 2) compute the cash balance listed on the March 31 bank statement.

) compute the March 31 reconciled cash balance of the Elbert Company. 2) compute the cash balance listed on the March 31 bank statement.

At the end of March, the Elbert Company records showed a cash balance of $7,027. When comparing the March 31 bank statement with the company’s cash account, the company discovered that deposits in transit were $725, outstanding checks totaled $862, bank service charges were $28, and NSF checks totaled $175. Required: 1) compute the March 31 reconciled cash balance of the Elbert Company. 2) compute the cash balance listed on the March 31 bank statement.