P6-12 Preparing a Bank Reconciliation and Related Journal Entries LO6-7 The bookkeeper at Hopkins Company has not reconciled the bank statement with the cash account, saying instead, "I don't have time." You have been asked to prepare a reconciliation and review the procedures with the bookkeeper The April 30, 2021, bank statement and the April ledger accounts for cash showed the following (summarized) Bank Statement Balance, April 1, 2021 Deposits during April Notes collected for company (including $79 interest) Cheques cleared during April NSF cheque-A. B. Wright Bank service charges Balance, April 30, 2021 Cheques Deposits Balance $32,800 $ 37,000 69,800 1,270 71,070 $45,400 25,670 169 25,501 79 25,422 25,422 Cash in Bank 24,400 Apr. Cheques written 42,850 42.000 Apr. 1 Balance Apr, Deposits Cash on Hand Apr. 30 Balance 190 A comparison of cheques written before and during April with the cheques cleared through the bank showed that cheques of $5,000 are still outstanding at April 30. No deposits in transit were carried over from March, but a deposit was in transit at April 30 Required: 1. Prepare a detailed bank reconciliation at April 30, 2021 Required: 1. Prepare a detailed bank reconciliation at April 30, 2021. Company's Books (Ending balance per cash account Additions Note receivable collected HOPKINS COMPANY Bank Reconciliation, April 30, 2021 Bank Statement Ending balance per bank statement Additions Deposit in transit 0 0 Deductions: INSFAB. Wright (Bank charges 0 Deductions Outstanding cheques Ending correct cash balance $ 0 0 Ending correct cash balance $ 2. Prepare any required journal entries as a result of the reconciliation (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet A B Record note receivable plus interest collected, Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal 3. What were the balances in the cash accounts in the ledger on May 1, 20212 Balance in cash in bank account Balance in cash on hand account 4. What total amount of cash should be reported on the statement of financial position at April 30, 2021? Statement of financial position (April 30, 2021): Current assets Cash