E$6-27($Algo$)$ Preparing Bank Reconciliation and Entries and Reporting Cash LO$6-4$

Bentley Company$$s June $30$ bank statement and June ledger account for cash are summarized below:

BANK STATEMENT

Checks Deposits Balance

Balance, June $1$ $ $7,050$

Deposits during June $ $15,75022,800$

Checks cleared during June $ $16,7506,050$

Bank service charges $266,024$

Balance, June $306,024$

Cash $($A$)$

Debit Credit

June $1$ Balance $7,050$ June Checks written $19,150$

June Deposits $18,200$

Required:

Complete the following bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $$2,400.$ A deposit of $$2,450$ is in transit at the end of June.

Prepare the journal entry that should be made as a result of the bank reconciliation.

What is the balance in the Cash account after the reconciliation entries?

What is the total amount of cash that should be reported on the balance sheet at June $30?$