Bark recor: at'or The following bank reconciliation was prepared as of June 30, 20Y7: Poway Co. Bank Reconciliation For the Month Ended June 30, 20Y7 Cash balance according to bank statement Add: Outstanding Check No. 1067 Outstanding Check No. 1106 Outstanding Check No. 1110 Outstanding Check No. 1113 Total additions ) Deduct: Deposit ofJune 30 not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: Face value Proceeds of note collected by bank: Interest Service charges Total additions Deduct: Check returned because of insufficient funds $555 460 1,080 930 $5,000 250 20 $870 $15,975 3,025 (5,500) $12,200 $10,890 5,270 Service charges Total additions Deduct: Check returned because of insufficient funds Error in recording June 17 deposit of $8,350 as $3,850 Total deductions Adjusted balance 3. Identify the errors in the following bank reconciliation: Item Correct 20 $870 4,500 5,270 (5,370] $10,790 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 Line Item Description Amount Amount Cash balance according to bank statement Total deductions Adjusted balance Cash balance according to company's records 00 00 Total additionsLine Item Description Amount Amount Cash balance according to bank statement $C] ' $ Total deductions C] Adjusted balance 55:] Cash balance according to company's records $C] ' $Cl Total additions [:] ' $Cl B Total deductions Adjusted balance $