Question: Preparing a bank reconciliation The Cash account of Safety Security Systems reported a balance of $2,450 at December 31, 2016. There were outstanding checks totaling $1,700 and a December 31 deposit in transit of $300. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $4,460. Included in the bank balance was a collection of $620 on account from Brendan Ballou, a Safety customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Safety earned on its bank balance. Prepare Safety's bank reconciliation at December 31.