Bank Reconciliation Problem The following information pertains to Hawk Enterprises 1. Cash balance per books, May 31, $27,500 2. Cash balance per bank, May 31, $16,700 3. Outstanding checks, May 31, $5,400 0 4. $2,000 was collected for Hawk in May by the bank through electronic funds transfer (EFT). The collection has not been recorded by Hawk. 1 5. May bank service charge not recorded by the depositor $50 2 6. Deposits in transit, May 31, $17,640 3 7. Hawk received a returned NSF check for $510 from a customer on May 29th 4 5 6 A. Prepare a bank reconciliation at May 31st (see illustration 7.9 from text for example format): 7 3. 1 2 3. 4 5 6 B. Prepare the journal entries Hawk should book at May 31st as a result of this reconcilation (see pgs 7-22 & 7-23): 7 9