Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,610. During May, the total cash deposited was $73,960 and checks written totaled $68,670. The bank statement indicated a balance of $25,070 on May 31 . Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,170. b. A deposit of $9,100, 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. $4,810 on a note left for collection. The face of the note was $4,440. d. A check for $580 returned with the statement had been incorrectly charged by the bank as $850. e. A check for $850 returned with the statement had been recorded by Brentwood Bike Co. as $580. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $60. g. A check for $1,110 from Jennings Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of May 31. 1. Prepare a bank reconciliation as of May 31. 2. Journalize the necessary entries (a.)thatincreasecashand(b.)thatdecreasecash.Theaccountshavenotbeenclosed,Fora compound transaction, if an amount box does not require an entry, leave it blank. 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31 , what amount should be reported as cash