6. Prepare a bank reconciliation (on scrap paper) using the following information: a. December 31 balance per bank statement, $250 b. December 31 balance per ledger account, $750 C. Checks outstanding totaled $500 d. Deposit in transit to the bank totaled $750 e. The bank collected $250 on a note receivable that the company was not aware of. f. The bank returned a $500 check marked "NSF" from I. M. Broke, one of the company's customers; the bank also reduced the account by $500. The correct balance of cash on December 31 is: a. $1,000 b. $750 c. $500 d. $250 e. none of the above 7. The journal entry for the above bank reconciliation would be: a. Cash 250 Notes Receivable 250 Accounts Receivable - 1. M. Broke 500 b. Deposit in transit 750 Outstanding checks 500 Cash 250 c. Cash 250 Outstanding checks 500 Deposit in transit d. Accounts Receivable - 1. M. Broke 500 Notes Receivable Cash 250 e, none of the above 750 250 5. A company purchases 1,500 shares of its $25 par value stock at $35 per share. It then reissues 500 shares at $40 per share. The entry upon reissue of the stock would include a credit to a. Cash for $2,500. b. Paid-in Capital from Treasury Stock for $2,500. C. Retained Earnings for $2,500. d Treasury Stock for $2,500. none of the above e