Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,510. During May, the total cas deposited was $67,100 and checks written totaled $62,300. The bank statement indicated a balance of $22,750 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 $10,130. b. A deposit of $8,250, 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. $4,360 on a note left for collection. The face of the note was $4,030. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. e. A check for $520 returned with the statement had been recorded by Brentwood Bike Co. as $250. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $70. g. A check for $1,010 from Jennings Co. was 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 Cash balance according to bank statement 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance O on Don 1 DO OOO Cash balance according to company's records Adjusted 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, if an amount box does not require an entry, leave it blank. a. May 31 b. May 31 JE 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash