< Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $13,190. The bank statement indicated a balance of $15,380 on June 30, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,540. b. A deposit of $5,770, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $3,000 on a $2,850 note, including interest of $150. d. A check for $880 returned with the statement had been incorrectly recorded by Pala Medical Co. as $800. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $50 had been erroneously charged by the bank as $500. f. Bank service charges for June amounted to $50. Required: 1. Prepare a bank reconciliation. Pala Medical Co. Bank Reconciliation June 30, 20Y1 Cash balance according to bank statement Adjustments: Total adjustments Previous