ACC121 M4COMP PROBLEM Question 1 of 2 -/25 1 Waterway Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2022, the company's Cash account per its general ledger showed a balance of $7.310.40 The bank statement from Emporia State Bank on that date showed the following balance Emporia State Bank Checks and Debits XXXX Deposits and Credits Daily Balance XXXX 5-31 8909.50 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts L The statement included a debit memo of $30 for the printing of additional company checks 2 2 4 5. 6 7. Cash sales of $760.72 on May 12 were deposited in the bank. The cash receipts entry and the deposit slip were incorrectly made for $810.72. The bank credited Waterway Company for the correct amount Outstanding checks at May 31 totaled $995.15. and deposits in transit were $171.05 On May 18 the company issued check No. 1181 for $683 to H. Moses, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Waterway Company for 5638 $3,400 was collected from a customer's note receivable by the bank for Waterway Company on May 31 through electronic funds transfer included with the canceled checks was a check issued by Tomins Company to C. Pemod for $350 that was incorrectly charged to Waterway Company by the bank On May 31, the bank statement showed an NSF charge of $450 for a check issued by Sara Ballard, a customer to Waterway Company on account P ACC121 M4COMP PROBLEM Question 1 of 2 > (a) Prepare the bank reconciliation at May 31, 2022 (List items that increase cash balance first.) WATERWAY COMPANY Bank Reconcillation -/25 1 Question 1 of 2 > -/25 E E ACC121 M4COMP PROBLEM Question 1 of 2 > (b) -/25= # Prepare the necessary adjusting entries for Waterway Company at May 31, 2022. (List all debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation May 31 Debit Credit May 31 May 31 (To record receipt of electronic funds transfer) (To record NSF check) May 31 (To correct error in deposit check) Question 1 of 2 May 31 (To correct error in deposit check) May 31 (To correct error in recording check) (To record bank service charge) eTextbook and Media List of Accounts Save for Later -/25 Attempts: 0 of 2 used Submit