Armounes Enterprises began operations on May 2, 2020 depositing $45,000 in the bank Duning this first month of business the following transactions occurred that affected the Cash account in the general de (Click the icon to view the transactions.) Shortly after the end of May, the company received its first bank statement (Click the icon to view the May bank statement.) In preparing to do the bank reconciliation, Armounes Enterprises noticed that the $2 600 deposit on May 29 was a bank error and informed the bank The bank will corred the error on the next bank statement Required Prepare Armouries Enterprises's bank reconciliation at May 31, 2020 Begin by prepanng the bank section of the bank reconciliation Then prepare the book section of the bank reconciliation Armouries Enterprises Bank Reconciliation May 31 2020 BANK Balance May 31 2020 S 81 650 25 600 Add Deposit in transit 107 250 Less Outstanding cheques Cheque Number S 10 900 003 17 500 005 2 600 (31 000) Correction of bank error Clear all obro this Calculator Ask my instructor UULUU WC casil Cum In the ement Transactions - X ced that the r on the next banks Date Description Dr Cr May 2 Deposit $ 45,000 5 Payment, cheque 001 Payment, cheque 002 $ 12,500 16,400 8 repare the Cash sales 16,800 15 Payment, cheque 003 10,900 18 Cash sales 12,200 20 Bank loan 115,000 26 81,000 Equipment purchase, cheque 004 Payment on account, cheque 005 30 17.500 31 Cash sales 25,600 Print Done Question 3, Exercise 8-9 (similar to) Part 2 of 2 > - - X Bank statement Description Withdrawals Deposits Date Balance 0 Balance Forward Deposit Chq#001 May01 45,000 Mayo2 May07 12,500 45,000 32,500 49,300 Deposit Chq#002 Deposit 16,800 May09 May 13 16,400 32,900 45,100 12,200 May18 115,000 May20 Bank Loan 160.100 Ch#004 81,000 May28 79 100 2.600| May29 81,700 Deposit Service Charge 64 May31 81 636 Interest 14 May31 81.650 109 964 191 614 Print Done an OLD B Less Outstanding cheques Cheque Number 003 $ 005 10,900 17,500 2,600 Correction of bank error (31,000) $ Adjusted bank balance, May 31, 2020 76,250 BOOKS Add Less