Instructions The cash account for Norwegian Medical Co. at April 30 indicated a balance of $97,456. The bank statement indicated a balance of $127,960 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items a Checks outstanding totaled $30,050 b. A deposit of $19,720, representing receipts of April 30, had been made too late to appear on the bank statement, c. The bank collected $22,149 on a $20,700 note, Including interest of $1,449. d. A check for $1.450 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $145. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account A check drawn for $290 had been erroneously charged by the bank as $920 Bank service charges for April amounted to $40. Required: 1. Prepare a bank reconciliation. Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions for the exact wording of text entries. "Add" or "Deduct will automatically appear if it is required. Entor al amounts as positive numbers. 2. Journalize the necessary entries. The accounts have not been closed. Refer to the chart of accounts for the exact wording of the account stes. CNOW Joumals do not use Ines for journal explanations. Every Ine on a journal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered 3. W a balance sheet is prepared for Norwegian Medical Co, on Apr 30, what amount should be reported as cash? CHART OF ACCOUNTS Norwegian Medical Co. General Ledger ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 111 Patty Cash 120 Accounts Receivable 131 Notes Receivable 541 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid truco 181 Land 191 Ofice Equipment 192 Accu Depreciation Office Equipment 10 Sortment Acumud Den Store Event EXPENSES 510 Cost of Marchandise Bok 515 Credit Card Expo 516 Can shok and O 520 Blanes Expense 591 Advertising Expense 532 Delivery Expo 53 Expense 534 Office Supplies Expert EXPENSES 510 Cost of Merchandise Sold 120 Accounts Receivable 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Selling Expenses 538 Store Supplies Expense 561 Depreciation Expense-Office Equipment 562 Depreciation Expense-Store Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Universal Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing Labels and Amount Descriptions Labels April 30 For the Month Ended April 30 Amount Descriptions Bank error in charging check as $290 instead of $920 Bank error in charging check as $920 instead of $290 Bank service charges Check for $920 returned because of insufficient funds Deposit of April 30, not recorded by bank Error in recording check Error in recording deposit Note and interest collected by bank Outstanding checks Bank Reconciliation Shaded cells have loedback 1. Prepare a bank reconciliation. Be sure to complete the statement holding. Refer to the Labels and Amount Descriptions for the exact wording of text entries. "Addo "Deduct will automatically appear if it is required Enter al amounts as positive numbers Norwegian Medical Co. Score: 0/84 Bank Reconciliation For the Month Ended April 30 1 Cash balance according to Bank Statement 7 5 Adjusted balance ? Cash balance according to company's records 10 11 Adjusted balance Points 0/10 Journal Shaded cells have foodba 2. Journalize the necessary entries. The accounts have not been closed. Refer to the chart of accounts for the exact wording of the account titles. CNOW Journals do not use lines for joumal explanations. Every tine on a joumal page is used for debitor credit entries CNOW Journals will automatically indent a credit entry when a credit amount is entered All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE: JOURNAL Score: 53775 ACCOUNTING EQUATION DATE DESCRIPTION POSTRI OOST CREDIT ASSETS LABILITIES COUNTY 1 2 5 . Final Question 3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash? Points: 0/1