Bank Reconciliation and Entries The cash account for Brentwood Be Coat May 1 indicated a balance of $14,000. During May, the total cash deposited was 69,770 and checks written totaled 564,780. The bank statement indicated a balance of 523,650 on May 31. Comparing the bank statement, the canceled chedes, and the accompanying memes with the records revealed the following reconciling items: a. Checks outstanding tot led $10.540. 5. A deposit of 58,580, representing receipts of May 31, had been made too late to appear on the bank statement. The bank had collected for rentwood Bike Co. 54,540 on a note for collection. The face of the note was $4,190. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. A check for $410 returned with the statement had been recorded by Brentwood Bike Co as $140. The check was for the payment of an obligation to Adicins Co. on account 1. Bank service charges for May amounted to $70 A check for $1.00 from Jennings Cowes returned by the bank because of insufficient funds Instructions 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Chance according to bank statement Check my work more Check My Work uses remaining (Previous 08:39 Auded balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. For a compound transaction, ir an amount box does not require an entry, leave it blank a. May 31 h May 31 3. 11 balance she e pared for rentwood Bike Co. on May 31, what amount should be reported as cash? COM Won Chey were Previous Emator Save and Ex Submit Assignment for Grading