Bank Reconciliation and Entries: The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $11,670. The bank statement Indicated a balance of $13,480 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling Items: a. Checks outstanding totaled $4,850. b. A deposit of $5,060, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $2,630 on a $2,490 note, including interest of $140. d. A check for $550 returned with the statement had been incorrectly recorded by Pala Medical Co. as $500. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $60 had been erroneously charged by the bank as $600. f. Bank service charges for June amounted to $20. Required: 1. Prepare a bank reconciliation. Pala Medical Co. Bank Reconciliation June 30, 20Y1 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: 000 Next :>