Bark Reconcilation and Entries The rash account for Brentwood Bike Co. at May 1 indicated a balance of $14,770. During May, the total cash deposited was 173,990 and decks written totaled $4,700. The hank statement indicated a balance of $25,000 on May 31. Comparing the bank statement, the canceled checks, and the accompanying mamos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,170. b. A deposit of $9,100, representing receipts of May 31 had been made too late to appear on the bank statement The bank had collected for Brentwood Bike Co. $4,810 on a note left for collection. The face of the note was 14,440. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. A check for $520 returned with the statement had been recorded by Brentwood Be Co. as $250. The check was for the payment of an obligation to Adkins Co. on account 1. Bank service charges for May amounted to $30 9. A check for $1,110 from Jennings Co, was returned by the bank due to insufficient funds Instructions: 1. Prepare a bank reconcilation as of May 31 Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to hank statement 213V 9300 Add bank me in charging thick in 1920 indeed of 3770 Deduct outstanding ches Adjusted lance Cach balance according to company's records A bite and inferent collected by bark Deduct bark service de V Deduct error in recording deck Adjusted balance L110 BOO 270 14770 X X 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. If an amount box does not require an entry, leave it blank a. May 31 Cash 9.100 X 9100 X Notes Receivable 4440 X 4440 Interest Revenue 10 X #10 X b. May 31 Accounts Payable-Adkins Co 270 270 X Accounts Receivable Jennings Co 1.110 1,110 X Miscellaneous Expense 270 X 270 X Cash 1.110 X 1110 X 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash? 21,500 X