$18$

The May $31$ balance per bank statement was $$12,400.$ The cash balance per books was $$17,000.$ Outstanding checks amounted to $$1,700,$ and deposits in transit were $$4,800.$ The bank statement contained an NSF check for $$1,100,$ a service charge for $$50,$ and a debil memo for direct payment of the telephone bill of $$350.$

absats

Required:

a$.$ Prepare a bank reconcliation to determine the true cash balance at May $31.$

b$.$ Indicate how osch of the required adjusting entries impact the financial statements.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Indicate how esch of the required adjusting entries impact the financial statements.

Note: Ente' any decreases to socount oalances and cash outflows with a minus sign. Leave celts blank if no input is needed.

$\backslash$table$[[$Horizontal Statements Model$],[$Hem$,$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of$],[$Cash Flows$]]],[$Assets$,=,$Liabilities,$+,\backslash$table$[[$Stockholders$],[$Equity$]],$Revenue,$-,$Expenses,$=,\backslash$table$[[$Net$],[$Income$]]],[$Cash$,\backslash$table$[[$Accourts$],[$Receivables$]]],[$Oussanding checks,$(1\mathrm{.}700),,=,,+,,,,,=,,],[$Deposats in tharse,$4200,,=,,-,,,=,,=,,],[$NSF check from a customer,,,$=,,-,,,-,,=,,]]$