Bank Reconciliation and Entries The cash account for collegiate Sports Co. on November 1, 2009, indicated a balance of 551,145. During November, the total cash deposited was $293,150, and checks written totale $307,360. The bank statement indicated a balance of $112.675 on November 30, 2019. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconcilingen a. Checks outstanding totaled $41,840 6. A deposit of $12,200, representing receipts of November 30, had been made too late to appear on the bank statement c. A check for $7.250 had been incorrectly charged by the banks $2,750. 6 A check for $760 returned with the statement had been recorded by Collegiate Sports Co as $7,000. The check was for the payment of an obligation to Ramirez Co, on account e. The bank had collected for Collegiate Sports Co. 57,385 on a note lert for collection. The face of the note was $7,000 1. Bank service charges for November amounted to $125 9. A check for $2,500 from Halen Academy was returned by the bank because of insuficient funds. Required: 112.675 12.300 1. Prepare a bank reconciation as of November 30, 2019 Collegiate Sports Co. Bank Reconciliation November 30, 2019 Cash balance according to bank statement Add Deposit in transit on November 10 Add: Outstanding check Deducti Bank error in charging check as $2.50 instead of 52250 Total deductions Adjusted balance Cash balance according to company's records 45 100 46340 3335 21 14,115 Total additions Addrank cerke changes Add Proceeds ofinote collected by an including 9115 interest 135 1.500 Total deductions TEIS Adjusted balance Previous Next 112675 1200 41. Bank Reconciliation November 30, 2019 Cash balance according to bank statement Adda Deposit in transit on November 30 Add: Outstanding checks Deduct: Bank error in charging check as $2.750 instead of 32.250 Total deductions Adjusted balance Cash balance according to company's records 4.500 46,340 76535 16.15 6540 7,385 Total additions 14225 125 Add: Bank service charges Add: Proceeds of note collected by bank, including $385 interest Total deductions 1,500 Adjusted balance TRIS 2. Journalte the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. It an amount box does not require an entry, leave it blank 2019 Nov 30 Nov. 30 3. If a balance sheet were prepared for Collegiate Sports Co. on November 30, 2019, what amount should be reported as cash? Previous