Bank Reconciliation and Entries The cash account for Stone Systems at July 31, 2045, indicated a balance of $10,015. The bank statement indicated a balance of $12,760 on July 31 205. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $4,590. b. A deposit of $4,790, representing receipts of July 31, had been made too late to appear on the bank statement. C. The bank had collected $2,490 on a note left for collection. The face of the note was $2,360 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 $500 had been incorrectly charged by the bank as $50. f. Bank service charges for July amounted to $55. Required: 1. Prepare a bank reconciliation Stone Systems Bank Reconciliation July 31, 2045 Cash balance according to bank statement Addi Deposit in transit on July 31 4,790 Deduct: Outstanding checks Deduct: Bank error in charging check as $50 instead of $500 Total deductions -5,040 Adjusted balance Cach hatteinnt man domanda Check My Work Previous Next > 12,760 -4.590 450 tod All work saved Email Instructor Save and Exit Submit Assignment for Grading