Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $11,260. The bank statement indicated a balance of $13,270 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 $4,780. b. A deposit of $4,980, representing receipts of June 30, had been made too late to appear on the bank statement c. The bank collected $2,590 on a $2,450 note, including interest of $140. d. A check for $660 returned with the statement had been incorrectly recorced by Pala Medical Co. as $600. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account e. A check drawn for $30 had been erroneously charged by the bank as $300. f. Bank service charges for June amounted to $50. Required: 1. Prepare a bank reconciliation. Pala Medical Co Bank Reconcliation Cash balance according to bank statement 13,270 Outstanding checks Total adjustments Adjusted balance Cash balance according to company's records