DUUN OF Santiago Coon May 31 indicated a balance of $20,915. The March bank statement indicated an ending balance of $25,645. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: 1. Checks outstanding totaled $5,975. 2. A deposit of $3,796 had been made too late to appear on the bank statement 3. A check for $1,482 returned with the statement had been incorrectly recorded as $482. The check was original 4. The bank collected $4,515 on a note left for collection of which $515 was interest revenue. 5. Bank service charges for May amounted to $70. 6. A check for $894 was returned by the bank because of insufficient funds. a. Prepare a bank reconciliation as of May 31. Santiago Co. Bank Reconciliation May 31 Cash balance according to bank statement X 25.645 -5.975 3,796 23,466 Adjusted balance 20,915 Cash balance according to company's records Add error in recording check -1,000 4,515 X -70 X -894 X Adjusted balance 23.466 b. Journalize any necessary entries based on the bank reconciliation. If an amount box does not require an entry, leave it blank May 31 May 31 ull BAZAART