Dr. McMuffin has a medical clinic formed as a corporation that provides specialty care services

to patients. The balances in the accounts as of January 1, 2021 are as follo

PART 1 The bookkeeper at Jefferson Company has not reconciled the bank statement with the Cash account, saying, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper. The April 30, current year, bank statement and the April t-account for Cash showed the following (summarized): BANK STATEMENT Checks Deposits Balance, April 1, current year Deposits during April $37,100 Interest collected 1,180 Checks cleared during April $43,000 NSF check-A. B. Wright 160 Bank service charges Balance, April 30, current year Balance $31,000 68,100 69,280 26,280 26,120 26,070 26,070 50 Cash Beginning Balance 23,500 Checks written 41,100 Deposits 41,500 Deposits 41,500 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $5,600 (including $3,700 written before and $1,900 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. (hint: it would be the difference between the $41,500 that the firm recorded as increases to cash during April less the $37,100 amount that the bank indicated as the total deposits in April). Required: 1. Prepare a detailed bank reconciliation for the month of April. See page 310, exhibit 6.5 for an example. There is an Excel workbook set up that you can use. Once you complete it in Excel, copy and paste the bank reconciliation into your Word Document. 2. Give any required adjusting journal entries as a result of the reconciliation. 3. What total amount of cash should be reported on the balance sheet at the end of April? a Bank Reconciliation for the Month of August Bank Statement Company's Books Ending Cash Balance per books before reconciliation Ending Cash balance per bank statement Add: Add: Deduct: Deduct: Ending Correct Cash Balance Ending Correct Cash Balance