Bank reconciliation and entries Incom Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question The cash account for Pala Medical Ce at June 3, 2011, dated a balance of $106,0 The bastament dicated a balance of $195.688 on June 30, 2011 Compeing the Sank statement and the accompanying canceled decks and me with the co Check outlandinged $1942 b. A depost of $12,300 representing recepts of June 30 had been made t The bed 26 500 m 25.000 note, including interest of $1.500 A check 4.000 ted with the statement had been cancy recorded by Pws Medical Co a 5400 The check was the payment of Skyne Sety Co for a phase on acc A tance charges 1 Pacitan Rate Amount Description at provided for the exact wing of the newer choces for best entres "0" 2. Jumat the necessary enester to me Chart of Accounts for each wording of account tes 3 Fasalance sheet were prepared for Pals Medical Co on June 30 2011, what amount should be reported as can Pievous Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Journal Final Question Instructions The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $166,436. The bank statement indicated a balance of $195,688 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items a. Checks outstanding totaled $19,427 b. A deposit of $12,300, representing receipts of June 30, had been made too late to appear on the bank statement c. The bank collected $26,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. 1. Bank service charges for June amounted to $55. 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entres "Add" & "Deduct" will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash? Bank reconciliation and entries Instructions Chart of Accounts Amount Descriptions Bank Reconciliation Instructions Journal Final Question The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436. The bank statement indicated a balance of $195,688 on June 30, 20Y1 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $19,427. b. A deposit of $12,300, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $26,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. 1. Bank service charges for June amounted to $55. 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries "Add:" & "Deduct" will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2 Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash