Bank Reconcillation and Entries The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $8,540. The bank statement indicated a balance of $10,980 on July 31,20Y5. Comparing the bank statement and the accompanying canceled checks and memos with the records reveals the following reconciling items: a. Checks outstanding totaled $3,950. b. A deposit of $4,120, representing receipts of July 31 , had been made too late to appear on the bank statement. c. The bank had collected $2,140 on a note left for collection. The face of the note was $2,030. d. A check for $500 returned with the statement had been incorrectly recorded by Stone Systems as $550. 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 $30. 1. Prepare a bank reconciliation. Stone Systems Bank Reconciliation July 31,20Y5 Cash balance according to bank statement Total deductions Adjusted balance Cash balance according to company's records Adjustments: Total additions Adjusted balance 3. If a balance sheet were prepared for Stone Systems on July 31,20Y5, what amount should be reported as cash? $