Current Attempt in Progress On May 31, 2021, Crane Theatre's cash account per its general ledger showed the following balance: Date May 31 CASH No. 101 Explanation Ref Debit Credit Balance Balance 5,199 The bank statement from Canada Bank on that date showed the following balance: Checks and Debits XXX CANADA BANK Deposits and Credits XXX Daily Balance 5/31 5,171 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1. 2. 3. 4. The statement included a debit memo of $35 for the monthly bank service charges. Cash sales of $635 on May 12 were deposited in the bank. The bookkeeper recorded the deposit in the cash journal as $645. Outstanding cheques on May 31 totalled $391 and deposits in transit were $1,091. On May 18, the company issued cheque #1581 for $685 to M. Datz on account. The cheque, which cleared the bank in May, was incorrectly journalized and posted by Crane Theatre for $658. A $1,900 note receivable was wired to the bank account of Crane Theatre on May 31. Interest was not collected for the note. Included with the cancelled cheques was a cheque issued by Bohr Theatre for $460 that was incorrectly charged to Crane Theatre by the bank. On May 31, the bank statement showed an NSF charge of $696 for a cheque issued by Tyler Bickell, a customer, to Crane Theatre on account. 5. 6. 7. Prepare the bank reconciliation at May 31. (List items that increase balance as per bank & books first.) CRANE THEATRE Bank Reconciliation May 31, 2021 Cash balance per bank statement $ CA Add : Deposits in transit $ 1091 Correction of cheque #1581 error for Payment on account 460 Less : Outstanding cheques Adjusted cash balance per bank $ Cash balance per books $ $ Add: Collection of note receivable Less : NSF cheque Tyler Bickell