Bank Reconciliation and Entries The cash account for Norwegian Medical Co. at April 30 indicated a balance of $14,755. The bank statement indicated a balance of $17,100 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $6,160. b. A deposit of $6,410, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $3,330 on a $3,160 note, including interest of $170. d. A check for $550 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $500. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $70 had been erroneously charged by the bank as $700. f. Bank service charges for April amounted to $55. Required: 1. Prepare a bank reconciliation. Norwegian Medical Co. Bank Reconciliation April 30 Cash balance according to bank statement Add deposit of April 30, not recorded by bank Add bank error in charging check as $700 instead of $70 Deduct outstanding checks Adjusted balance Cash balance according to company's records Add note and interest collected by bank