eBook Show Me How Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,160. During May, the total cash deposited was $66,830 and checks written totaled $62,050. The bank statement indicated a balance of $22,660 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,090. b. A deposit of $8,220, representing receipts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,340 on a note left for collection. The face of the note was $4,010. d. A check for $360 returned with the statement had been incorrectly charged by the bank as $630. e. A check for $970 returned with the statement had been recorded by Brentwood Bike Co. as $790. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $40. g. A check for $1,000 from Jennings Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Check My Work $ Previous

Bank Reconcilabon and Entries revealed the following recenciling items: a. Checks outstanding totaled $10,090. b. A deposit of $8,220, representing receipts of May 31 , had been made too late to appear on the bank statement. c. The bank had collected for Brentwood B ke C0. $4,340 on a note left for collection. The face of the note was $4,010. d. A check for $360 returned with the statement had been incorrectly charged by the bank as $630. account. f. Bank service charges for May amounted to 540 9. A check for $1,000 from lennings Co, was returned by the bank because of insufficient funds: Instructions: 1. Prepare a bank reconcliation as of May 31 . Brentwood bike Co. Bank Reconciliation Mar 31 Cash balance according to bank statement Adjusted batance Cash balance according to company's records 1. Prepare a bank reconoliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance Cash balance actording to company's records Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 Adjusted balance Cash balance according to company's records: Adjusted balance 2. Journalize the hecessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. May 31 b. May 31 3. If a balance sheet is prepared for Brentwood Bike Co, on May 31, what amount should be reported as cash