Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,190. During May, the total cash deposited was $65,610 and checks written totaled $60,920. The bank statement indicated a balance of 522,240 on May 31. Comparing the bank statement, the canceled checks, and the accompanying mernos with the records revealed the following reconciling items: 2. Checks outstanding totaled 89,910. b. A deposit of $8,070, representing receipts of May 31, had been made too late to apocar on the bank statement c. The bank had collected for Brentwood Bike Co. $1,260 on a note left for collection. The face of the note was $3,910 eck for $490 returned with the statement had been acorrectly chanced by the bank as 49. 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 $10. 9. A check for $980 from Jennings Co. was returned by the bank because of insufficient funds. Instructions: ) 1. Prepare a bank reconciliation as of May 31. Brentwood Dike Co Bank Reconciliation Cash balance according to berk statement Add deposit of May 31, not recorded by bank Add nobs and interest collected by bank x Adjuste balance Cash balance according to company's records Adjusted balance Check My Wark 1. Set up two columns: one for the pompany cash account section and the other for the bark balance section. Determine the effect of the data on each column. Recal that when you are fnished, the adjusted balances in the bank and company sections of the reconcilation must be cual. If noi, an dem has been overlooked or treated in error 2. Joumalize the necessary entries (a.) that increase cash 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 b. May 31 Feedback