Bill Jovi is reviewing the cash accounting for Splish, Inc., a local mailing service. Jovis review will focus on the petty cash account and the bank reconciliation for the month ended May 31, 2020. He has collected the following information from Splishs bookkeeper for this task. Petty Cash 1. The petty cash fund was established on May 10, 2020, in the amount of $287.50. 2. Expenditures from the fund by the custodian as of May 31, 2020, were evidenced by approved receipts for the following: Postage expense $37.95 Mailing labels and other supplies 74.75 I.O.U. from employees 34.50 Shipping charges (to customer) 66.07 Newspaper advertising 26.22 Miscellaneous expense 17.65 On May 31, 2020, the petty cash fund was replenished and increased to $345.00; currency and coin in the fund at that time totaled $30.36. Bank Reconciliation THIRD NATIONAL BANK BANK STATEMENT Disbursements Receipts Balance Balance, May 1, 2020 $10,084.35 Deposits $32,200.00 Note payment direct from customer (interest of $34.50) 1,069.50 Checks cleared during May $35,822.50 Bank service charges 31.05 Balance, May 31, 2020 7,500.30 Splishs Cash Account Balance, May 1, 2020 $ 10,177.50 Deposits during May 2020 35,650.00 Checks written during May 2020 (36,610.25 ) Deposits in transit are determined to be $3,450.00, and checks outstanding at May 31 total $977.50. Cash on hand (besides petty cash) at May 31, 2020, is $282.90.

Prepare the journal entries to record the transactions related to the petty cash fund for May. (Enter answers to 2 decimal places, e.g. 125.62. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Prepare a bank reconciliation dated May 31, 2020, proceeding to a correct cash balance, and prepare the journal entries necessary to make the books correct and complete. (Enter answers to 2 decimal places, e.g. 125.62. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

What amount of cash should be reported in the May 31, 2020, balance sheet? (Enter answer to 2 decimal places, e.g. 125.62.)