15.

records revealed the following reconciling items: - Checks outstanding totaled $5,975. - A deposit of $3,796 had been made too late to appear on the bank statement. - A check for $1,482 returned with the statement had been incorrectly recorded by the company as $482. The check was originally issued to pay on account. - The bank collected $4,515 on a note left for collection of which $515 was interest revenue. - Bank service charges for May amounted to $70. - A check for $894 was returned by the bank because of insufficient funds. a. Prepare a bank reconciliation as of May 31 . c. If a balance sheet were prepared for Santiago Co. on May 31, what amount should be reported for cash? $