Instructions The cash account for Norwegian Medical Co. at April 30 indicated a balance of $93,115. The bank statement indicated a balance of $125,800 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 $30,060. b. A deposit of $19,240, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $24,075 on a $22,500 note, including interest of $1,575. d. A check for $1,800 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $180. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $390 had been erroneously charged by the bank as $930. f. Bank service charges for April amounted to $50. 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. Enter all 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 titles. CNCW journals do not use lines for journal explanations. Every line 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. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash?

The cash account for Norwegian Modical Co. at Aprit 30 indicated a balance of $93,115. The bank statement indicated a balance of $125.800 on April 30 . Comparing the bank statament and the accorpanying canceled checks and momos with the roconds revealed the following reconoling items: a. Checks outstanding iotaled $30,000. b. A deposi of $19,240, representing receipts of Apri 30 , had been made too late to appear on the bank staterrent. c. The bark collocted $24,075 on a $22,500 note, including interest of $1,$75. d. A check for $1,600 refumed with the staternent had been incorrectly recorded by Norwegian Medical Co as $180. The check was for be paryment of an obigetion to Universal Supply Co for a purchase on account e. A check drawn for $390 had been enronecusly charged by the bank as $930. 1. Bank service charges for Apni amourtnd to $50. Required: 1. Prepare a bank reconcilation Be sure to complete the statemont heading. Refer to the Labels and Anount Dascriptions for the exact wonding of text entries. "Mdd" or "Doduct" wil alfomaticaly sppear if if is required. Enter all amounts as positive numbers. 2 Joumalize the necessary entries. The eccounts hive not been closed. Reler to the chart of accounts for the exact wonding of the accourt tiles. CNOW joumals do not use Ines for poumal explanations. Every ine on a joumal page is used for dobt or cradr entries. CNOW joumals wat avomatcally indent a credit entry when a credif amount is entered. 3. If a bilance sheet is prepared for Norwegian Medical Co on Apn 30 , what amount should be reported as cash? CHART OF ACCOUNTS Norwegian Medical Co. General Ledger ASSETS 110 Cash 111 Petty Cash 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 REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 51. 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 Chart of Accounts 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment LIABILITIES 211 Accounts Payable-Universal Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 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 Dereciation Expense-Store Equipment 590 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing Labels and Amount Descriptions Norwegian Medical Co. Bank Reconciliation (Label) \begin{tabular}{|l|l|l|l|} \hline 1 & Cash balance according to bank statement \\ \hline 2 & \\ \hline 3 & \\ \hline 4 & Adjusted balance \\ \hline 6 & \\ \hline 7 & Cash balance according to company's records \\ \hline 1 & \\ \hline 2 & \\ \hline 10 & \\ \hline 11 & Adjusted balance \\ \hline \end{tabular} 2. Joumaline the necossary entries. The accounts have not been closed. Aefor to the chart of accounts for the axact wording of the account tiltes. CNOW joumals do not use Aines for joum explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered 3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash