Bank Reconciliation and Entries The cast account for Pala Medical Co. at June 30, 2041, indicated a balance of $13,170. The bank statement indicated a balance of $14,970 on June 30, 2011. Comparing the barik statement and the accompanying canceled checks and memos with the records revealed the following reconciling items! a. Checks outstanding totaled $5,390. b. A deposit of $5,610, representing receipts of June 30, had been made too late to appear on the bank statement C. The bank collected 52,920 on a 52,770 note, including interest of $150. 4. A check for $550 returned with the statement had been incorrectly recorded by Pola Medical Co. an $500. The check was for the payment of an obligation to Skyline Supply Co. For a purchase on account e. A check drawn for 590 had been erroneously charged by the bank as $900. 1. Bank service charges for June amounted to $40. Required: 1. Prepare a Dank reconciliation Pala Medical Co Bank Reconciliation June 30, 2011 Cashy balance according to bank statement Adjustments Total adjustments Adjusted balance Cash balance according to company records Adjustments Odk My Work Previous Next > Al werk ved Emal instructor Save and Exe Sub Assignment for Grading Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. For a compound transaction, an amount box does not require an entry, leave it blank. a 2011 June 30 III III I10 III b. June 30 3. 11 a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash? Check My Work Previous Next >