Peterson Company's general ledger shows a cash balance of $$7,420$ on May $31.$ May cash receipts of $$1,220,$ included in the general ledger balance, are placed in the night depository at the bank on May $31$ and processed by the bank on June $1.$ The bank statement dated May $31$ shows an NSF check from a customer for $$120$ and a service fee of $$70.$ The bank processes all checks written by the company by May $31$ and lists them on the bank statement, except for one check totaling $$1,900.$ The bank statement shows a balance of $$7,910$ on May $31.$

Required:

Prepare a bank reconciliation to calculate the correct balance of cash on May $31.($Amounts to be deducted should be indicated with a minus sign.$)$