Chapter ternal Control and Cash The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,490. During May, the total cash deposited was $73,410 and checks written totaled $68,160. The bank statement indicated a balance of $24,890 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: Checks outstanding totaled $11,080. A deposit of $9,030, representing receipts of May 31, had been made too late to appear on the bank statement. The bank had collected for Brentwood Bike Co. $4,770 on a note left for collection The face of the note was $4,400. d. A check for $360 returned with the statement had been incorrectly charged by the bank as $630. A check for $410 returned with the statement had been recorded by Brentwood Bike Co. as $140. The check was for the payment of an obligation to Adkins Co. on account. Bank service charges for May amounted to $30. A check for $1,100 from Jennings Co. was returned by the bank because of Insufficient funds. Instructions: 1. Prepare a bank reconciliation as of May 31 May 31 All of May 11, de bank Det standing the Datest secreturned bananautimamttante Deductive care . Salert ating a 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. Notes Recent Mano te