The cash account for Norwegian Medical Co. at April 30 indicated a balance of $403,784. The bank statement indicated a balance of $468,460 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed
the following reconciling items:

a. Checks outstanding totaled $73,870.

b. A deposit of $51,230, representing receipts of April 30, had been made too late to appear on the bank statement.

c. The bank collected $50,630 on a $48,220 note, including interest of $2,410.

d. A check for $9,160 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $916. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account.

e. A check drawn for $680 had been erroneously charged by the bank as $860.

f. Bank service charges for April amounted to $170.

Instructions

1. Prepare a bank reconciliation.

2. Journalize the necessary entries. The accounts have not been closed.

3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash?