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On July 31 , Merlyn Kremp, the accountant of the scented in Ltd, prepared the documents for the bank reconciliation. He noted a cash balance

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On July 31 , Merlyn Kremp, the accountant of the scented in Ltd", prepared the documents for the bank reconciliation. He noted a cash balance of $13,534 in the general ledger. The bank statement on that date showed a balance of $21,675. A comparison of the bank statement with the Cash account revealed the following: 1. The bank statement included service charges and card processing fees of $35. 2. The bank statement included electronic collections from customers totaling $5,110. Breathe-in Ltd. had not recorded the EFT at this point. 3. A de osit of $2,200 made by another company was incorrectly added to Breath-in's account by their bank. 4. The bank statement shows salaries of $5,400 that were paid electronically during the month. The company has already recorded these. 5. Cheques outstanding on June 30 totaled $3,749. Of these, $2,883 cleared the bank in July (i.e. they have been collected). All new cheques written in July cleared the bank in July already (i.e. they are not outstanding). Merlyn asked you to help with the bank reconciliation. Provide your calculations on paper, then enter the appropriate amounts in the fields below. Submit your calculations to the dropbox after the exam. If you have not added or subtracted an amount to the bank or books, enter 0 . Formatting: Enter all amounts as plain numbers (no \$-sign or comma), e.g, 3450 Blank \#1: What is the total amount to be ADDED to the bank side? Formatting: Enter all amounts as plain numbers (no \$-sign or comma), e.g. 3450 Blank \#1: What is the total amount to be ADDED to the bank side? Blank \#2: What is the total amount to be SUBTRACTED from the bank side? Blank \#3: What is the total amount to be ADDED to the books side? Blank \#4: What is the total amount to be SUBTRACTED from the books side? Blank \#5: How many journal entries would yo uneed to record for this bank reconciliation? Blank \# 1 Blank \# 2 Blank \# 3 Blank \# 4 Blank \# 5

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