Bank Reconciliation and Entries The cash account for Stone Systems at July 31, 2015, indicated a balance of $8,635. The bank statement indicated a balance of $11.310 on July 31, 20YS. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $4,070. b. A deposit of $4,240, representing receipts of July 31, had been made too late to appear on the bank statement. c. The bank had collected $2,210 on a note left for collection. The face of the note was $2,090. d. A check for $600 returned with the statement had been incorrectly recorded by Stone Systems as $660. The check was for the payment of an obligation to Holland Co. for the purchase of office supplies on account. e. A check drawn for $700 had been incorrectly charged by the bank as $70. f. Bank service charges for July amounted to $55. Required: 1. Prepare a bank reconciliation. Stone Systems Bank Reconciliation July 31, 20YS Cash balance according to bank statement Add: Deposit in transit on July 31 Deduct: Outstanding checks Deduct: Bank error in charging check as $70 instead of $700 Total deductions 00 Adjusted balance