Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,960. During May, the total cash deposited was $70,480 and checks written totaled $65,440. The bank statement indicated a balance of $23,890 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 $10,640. b. A deposit of $8,670, 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. $4,580 on a note left for collection. The face of the note was $4,230 d. A check for $580 returned with the statement had been incorrectly charged by the bank as $850 e. A check for $410 returned with the statt had been recorded by Brentwood Bike Co. as $140. The check was for the payment of an obligation to Adkins Co. on account. g. A check for $1,060 fmennings Co. was returned by the bank because of insufficient funds. 1. Prepare a bank reconciliation as of May 31 Brentwood Bike Co Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance