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, 2041 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items a Checks outstanding totaled 33,700 b. A deposit of $18.900, 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, including interest of 51 442 d. A check for $1.600 returned with the statement had been incorrectly recorded by Pala Medical Co as 5160 The check was for the payment of an obligation to Skyline Supply Co for a purchase on account e Acheck drawn for $680 had been erroneously charged by the bank as 5060 1. Bank service charges for June amounted to $40, Instructions 1 Prepare a bank reconciliation Refer to the Amount Descriptions at provided for the exact wording of the answer choices for text entries "Add" & "Deduct * will automatically appear if it is requred 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 account the 3. to balance sheet were prepared for Pala Medical Co, on June 30, 2014, what amount should be reported as caun? CHART OF ACCOUNTS Pala Medical Co. General Ledger REVENUE ASSETS 110 Cash 410 Sales 610 Interest Revenue EXPENSES 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 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 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 LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable TOONOVO 746 10e Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment 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-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable I 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 Bank Reconciliation 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 wil automaticaly appear if it is required for those boxes in which you must enter subtracted or negative numbers use a minus sign Pala Medical Co Bank Reconciliation June 30 20Y1 1 Cash balance according to bank statement 2 1 Cash balance according to company's records . 10 1 LE 13 Journal 2. Journaize the necessary entries. Refer to the Chart of Accounts for evact wording of account obles PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RIR DEBIT CREDIT ASSETS LIABILITIES EQUITY ) Final Question 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1 what amount should be reported as cash? s