Hank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $12,940. During May, the total cash deposited was $64,820 and chedis written totaled $60,190. The bank statement indicated a balance of $21,970 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memes with the records revealed the following reconciling items: a. Checks outstanding totaled 39,790. b. A deposit of $7.970, representing recepts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,210 on a note telt for collection. The face of the note was $3,990. d. A check for $270retumed with the statement had been incorrectly charged by the bank as $720. 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 1. Bank service charges for May amounted to $30. g. A check for 1970 from Jennings Co. was returned by the bank because of insufficient funds. Instructions: 1. Prepare a bank reconciliation as of May 31. 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been dosed. For a compound transaction, if an amount box does not require an entry, leave it blank a. May 31 Cash Notes Receivable Interest Revenue b. May 31 Accounts Receivable-Adkins Co. Accounts Payable: Jennings Co. Interest Expense Cash I 3. If a balance sheet is prepared for Brentwood ikea on May 1, what amount should be reported as the