Instructions The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $91,408. The bank statement indicated a balance of S126,590 on June 30, 20Y1 Comparing the bank statement and the accompanying canceled checks and momos with the records revealed the following reconcilingoms a. Checks outstanding totaled $33,700 b. A deposit of 518,900, representing receipts of June 30, had been made too late to appear on the bank statement c. The bank collected $22,042 on a $20.600 note, ncluding interest of $1,442 d. A check for $1,800 returned with the statement had been incorrectly recorded by Pala Medical Co, as $180. The check was for the payment of an obligation to Skyine Supply Co. for a purchase on account Acheck drawn for $seo had been arroneously charged by the bank as $360 1. Bank service charges for June amounted to $40 Instructions 1. Prepare a bank reconciliation Refer to the Amount Descriptions ist provided for the exact wording of the answer choices for text entries. "Add & Deduct. will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of accounts 3. Ia balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash? tructions Chart of Accounts CHART OF ACCOUNTS Pala Medical Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salarios Expense 151 Prepaid Insurance 181 Land 531 Advertising Expense EXPENSES Chart of Accounts 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-Storo Equipment 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expenso 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Solling Expenses 538 Store Supplies Expense 561 Depreciation Exponse-Office Equipment 562 Depreciation Expense-Store Equipment 590 Miscellaneous EXANBA LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Pavable Chart of Accounts 193 Store Equipment 194 Accumulated Depreciation-Store Equipment 034 Umce Supplies Expense LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 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 EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Amount Descriptions Amount Descriptions Adjusted balance Bank error in charging check as $860 instead of $680 Bank service charges Deposit in transit on June 30 Deposit of June 30, not recorded by bank Error in recording check Outstanding checks Note collected by bank, including $1,442 interest Total additions Total deductions VC 3. b Bank Reconciliation Pata Medical Co Bank Recondition June 10, 2011 Cash balance according to Bank Statement 2 1 Cash balance according to company records Bank Reconciation 2 Cash balance according to company's records 18 11 11 Journal 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DERIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash? $ 2