Bank Reconciliation and Entries

The cash account for American Medical Co. at April 30 indicated a balance of $12,855. The bank statement indicated a balance of $14,900 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:

1. Checks outstanding totaled $5,360.
2. A deposit of $5,590, representing receipts of April 30, had been made too late to appear on the bank statement.
3. The bank collected $2,910 on a $2,760 note, including interest of $150.
4. A check for $770 returned with the statement had been incorrectly recorded by American Medical Co. as $700. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account.
5. A check drawn for $60 had been erroneously charged by the bank as $600.
6. Bank service charges for April amounted to $25.

Bank Reconciliation and Entries checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,360. b. A deposit of $5,590, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $2,910 on a $2,760 note, including interest of $150. e. A check drawn for $60 had been erroneously charged by the bank as $600. f. Bank service charges for April amounted to $25. Required: 1. Prepare a bank reconciliation. American Medical Co. Bank Reconciliation April 30 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance 3. If a balance sheet is prepared for American Medical Co. on April 30, what amount should be reported as cash