Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,370. During May, the total cash deposited was $72,740 and checks written totaled $67,540. The bank statement indicated a balance of $24,660 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 $10,980. b. A deposit of $8,950, 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. $4,730 on a note left for collection. The face of the note was $4,360. d. A check for $360 returned with the statement had been incorrectly charged by the bank as $630. 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 $40. g. A check for $1,090 from Jennings Co. was returned by the bank because of insufficient funds. eBook Show Me How Calculator Print Item Brentwood Blke Co. Bank Reconcillation May 31 Cash balance according to bank statement Add deposit of May 31, not recorded bybank Ad tead of $360 Add bank service charges Add deposit of May 31, not recorded by bank De Add error in recording check Adj Add outstanding checks Cas Add note and interest collected by bank UPaAa naauo.1saia nuR a1oupp May 31 Cash balance according to bank statement Add deposit of May 31, not recorded by bank Add bank error in charging check as $630 Instead of $360 Add bank error in charging check as $630 instead of $360 Ded Add bank service charges Adjus Add check returned because of insufficient funds Cashi Add note and interest collected by bank Add Deduct error in recording check Deduct outstanding checks Deduct bank service charges Deduct check returned because of insufficient furnds Deduct deposit of May 31, not recorded by bank Deduct outstanding checks lent funds Deduct note and interest collected by bank Deduct error In recording check O00 Adjusted balance Cash balance according to company's records Add note and Interest collected by bank Add bank error in charging check as $630 instead of $360 nds Add bank service charges Add check returned because of insufficient funds Add deposit of May 31, not recorded by bank Add note and interest collected by bank Deduct check returned because of Insufficlent funds Deduct bank error in charging check as $630 instead of $360 Deduct check returned because of insufficient funds Deduct deposit of May 31, not recorded by bank Deduct outstanding checks h and (b.) that decrease cash. The accounts have not 2 Deduct note and interest collected by bank a May 21 Q00 Deduct outstanding checks Adiusted balance Deduct bank error in charging check as $630 instead of $360 Deduct deposit of May 31, not recorded by bank Deduct error in recording check Deduct outstanding checks ds Deduct note and interest collected by bank Deduct error in recording check Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have amount box does not require an entry, leave it blank a. May 31 2. Journalize the necessary entries (a.) that increase ceash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, If an amount box does not require an entry, leave it blank. a. May 31 Cash Cash Short and Over Interest Revenue b. May 31 Notes Recelvable Petty Cash 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? Previous Check My Work 2 more Check My Work uses remaining Submit Assianment for Gradin Save and Exit Email Instructor All work saved. 10 djusted balance Journalize the necessary entries (a.) that increase cash and (b.) that decrease cas ount box does not require an entry, leave it blank. . May 31 Cash Interest Payable D. May 31 Interest Receivable Notes Receivable Petty Cash . If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount sho Deduct check returned because of Insufficient funds Deduct bank service charges Deduct error In recording check Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b amount box does not require an entry, leave it blank. a. May 31 Cash b. May 31 Interest Revenue Petty Cash Sales Unearned Interest 3. If a balance sheet is prepared for Brentwood Bike Co. on May 3 Check My Work 2 more Check My Workuses remaining 00 Deduct error in recording check Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) t amount box does not require an entry, leave it blank. a. May 31 b. May 31 Accounts Payable-Adkins Co. Accounts Receivable-Adkins Co. Cash Short and Over Interest Revenue Brentwood Bike Co. on May 31, 3. If a Notes Receivable 2. Journalize the necessary entries (a.) that increase ca leave it blank. amoun Accounts Payable-Jennings Co. a. May Accounts Receivable-Jennings Co. Interest Expense Interest Revenue Petty Cash b. May justed Journalize the necessary entries (a.) that increase cash an nount box does not require an entry, leave it blank. . May 31 Cash Interest Expense Miscellaneous Expense Notes Payable b. May 31 Notes Receivable 3. If a balance sheet is prepared for Brentwood Bike Co. on May A 2. Journalize the necessary entries (a.) that increase cash amount box does not require an entry, leave it blank. . ay 31 Accounts Payable-Adkins Co. Accounts Receivable-Jennings Co. Cash b. May Miscellaneous Expense Notes Receivable 3. If a balance sheet is prepared for Brentwood Bike Co. on M 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash