Bank Reconciliation The following bank reconciliation was prepared as of June 30, 20Y7: Poway Co. Bank Reconciliation For the Month Ended June 30, 20Y7 $16,185 Cash balance according to bank statement $575 Add: Outstanding Check No. 1067 Outstanding Check No.1106 470 1,050 Outstanding Check No.1110 910 Outstanding Check No.1113 3,005 Total additions (6,600) Deduct: Deposit of June 30 not recorded by bank $12,590 Adjusted balance $8,985 Cash balance according to company's records $6,000 Add: Proceeds of note collected by bank: Face value 300 Proceeds of note collected by bank: Interest 15 Service charges 6,315 Total additions $890 Deduct: Check returned because of insufficient funds 5,400 Error in recording June 17 deposit of $7,150 as $1,750 (6,290) Total deductions $9,010 Adjusted balance a. Identify the errors in the following bank reconciliation: Item Correct Heading Outstanding checks Deposit of June 30 Service charges Error in June 17 deposit Adjusted balance per the bank b. Prepare a corrected bank reconciliation. Poway Co. Bank Reconciliation June 30, 20Y7 Cash balance according to bank statement Total deductions Adjusted balance Cash balance according to company's records Total additions Total deductions Adjusted balance 8 more Check My Work uses remaining