Bank Reconciliation and Entries The cash account for Stone Systems at July 31, 2045, Indicated balance of $17,750. The bank statement indicated belance of $33,050 on July 21, 2016. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items! a. Checks outstanding totaled $17,365. b. A deposit of $9,150, representing receipts of July 31, had been made too late to appear on the bank statement c. The bank had collected $6,095 on a note left for collection. The face of the note was $5,750. d. A check for $390 returned with the statement had been incorrectly recorded by Stone Systems m $930. The check was for the payment of an obligation to Holtand Co. for the purchase of office supplies on account A check drawn for $1,810 had been incorrectly charged by the bank as $1,180. 1. Bank service charges for July amounted to $80 Required: 1. Prepare a bank reconciliation Stone Systems Bank Reconciliation July 31, 2015 Cash balance according to bank satement Adjustments Deposit of July 31, not recorded by bank 410 Bank error in charging check as $1,180 instead of $1,810 17.865 Outstanding checks Total adjustments Sise 1.10X 24.105 Adjusted balance Previous Check My Work 33,650 9,150 630 17.865 1.810X 1. Prepare a bank reconciliation. Stone Systems Bank Reconciliation July 31, 2015 Cash balance according to bank statement Adjustments: Deposit of July 31, not recorded by bank Bank error in charging check as $1,180 instead of $1,810 Outstanding checks Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Proceeds of note collected A bank, including $345 interest Error in recording check by Stone Systems Bank service charges Total adjustments Adjusted balance 24,305 17,750 6,095 540 80 24,305 Feedback Check My Work