1. Tim operates a FedEx Kinko's store. He has just received the monthly bank statement at May 31 from City National Bank, and the statement shows an ending balance of \$595. Listed on the statement are an EFT rent collection of $300, a service charge of $12, two NSF checks totaling $120 and a $9 charge for printed checks. In reviewing his cash records, Tim identifies outstanding checks totaling $603 and a May 31 deposit in transit of $1,788. During May, he recorded a $290 check for the salary of a part-time employee as $29. Tim's Cash account shows a May 31cash balance of $1,882. Required A. How much cash does Tim actually have at May 31 ? B. Journalize the necessary journal entries related to the bank reconciliation. 2. At December 31,207, before any year-end adjustments, the accounts receivable balance of Sunset Hills Clinic is $235,000. The allowance for doubtful accounts has a $7,400 credit balance. Sunset Hills prepares the following aging schedule for accounts receivable: Required A. Based on the aging of accounts receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? B. Make the entry required by the aging schedule. C. Show how Sunset Hills Clinic will report Accounts Receivable on its December 31 balance sheet