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ACCT 1220 Weekly Assignment Assignment 8 The bookkeeper at Anoroc Company as asked you to prepare a bank reconciliation as of May 31. The bank

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ACCT 1220 Weekly Assignment Assignment 8 The bookkeeper at Anoroc Company as asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the May T-Account for cash showed the transactions listed below. Anoroc Company's bank reconciliation at the end of April showed a cash balance of $23.800. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. When going through the accounts, you notice that the bank made an error when recording the outgoing company cheque #504. Withdrawals Deposits in $ 5,000 #501 #502 12,000 7.000 11.500 Balance, 01-May 02-May 05-May 07-May 08-May 14-May 17-May Interest Earned 22-May NSF cheque 29. May 31-May Service charges Balance, May 31 Balance in S 21.00 28,800 16,800 9,800 21,300 20,700 20,825 20,575 14,175 14,115 14.115 #503 600 25 #504 250 6,400 01-May Balance 01-May 07-May 29. May 21 on 5.000 11.500 4,000 02-May 6501 02.M 04-May #502 11-May 1503 27-May 2504 29-May 505 12.000 7.000 600 4,600 1.300 31-May Balance IN N00 Instructions a) Prepare a bank reconciliation for May b) Prepare any journal entries required as a result of the bank reconciliation c) Explain why these journal entries in (b) are necessary, provide 1-2 sentences d) After the reconciliation joumal entries are posted, what balance will be reflected in the Cash account in the ledger

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