E5-5 Preparing a Bank Reconciliation and Journal Entries, and Reporting Cash (L04) Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Withdrawals Deposits $21, 360 Balance, June 1 Deposits during June Cheques cleared during June Bank service charges Balance, June 30 $23,900 110 Balance $ 8,000 29, 360 5,460 5,350 5,350 Cash (A) June 1 June Balance Deposits 7,600 23,000 23,760 Cheques written June June 38 Balance 6,840 Required: 1. Prepare a bank reconciliation. A comparison of the cheques written with the cheques that have cleared the bank shows outstanding cheques of $260. Some of the cheques that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. HILLS COMPANY Bank Reconciliation June 30 Company's books Ending balance per cash account Additions: Bank statement Ending balance per bank statement Additions 0 0 Deductions: Deductions: $ $ Up-to-date cash balance o Up-to-date cash balance 0 2. Prepare the Journal entry that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the journal entry that should be made as a result of the bank reconciliation Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal 3. What is the balance in the Cash account after the reconciliation entries? Cash balance 4. In addition to the balance in its bank account, Hills Company also has $380 cash on hand. This amount is recorded in a separate T- account called Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 30? Cash