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 304 Deposits in s in S 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 23,800 28,800 16,800 9,800 21,300 20,700 20,825 20,575 14,175 14,115 14,115 #503 600 125 #504 250 6,400 60 Cash 23,800 01-May Balance 01-May 5,000 07-May 29-May 11,500 4,000 02-May #501 04-May #502 11-May #503 27-May #504 29-May #505 12,000 7,000 600 4,600 1,300 31-May Balance 18,800 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 journal entries are posted, what balance will be reflected in the Cash account in the ledger