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Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,860. During May, the total cash
Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,860. During May, the total cash deposited was $70,180 and checks written totaled $65,160. The bank statement indicated a balance of $23,790 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memes with the records revealed the following reconciling items a. Checks outstanding totaled $10,600. b. A deposit of $8,630, representing receipts of May 31 had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,560 on a note left for collection. The face of the note was $4.210 d. A check for $360 returned with the statement had been incorrectly charged by the bank $6.30 e. A check for $630 returned with the statement had been recorded by Brentwood Bike Co. as $360, The check was for the payment of an obligation to Adkins Co. on account f. Bank service charges for May amounted to $30. g. A check for $1,050 from Jennings Co. was returned by the bank due to insufficient funds Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to bank statement Adusted belangs Check My Work :.00 000 Previous Name Animere for Gradine
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