Pina Colada Corp. deposits all receipts intact and makes all payments by cheque. The following information is available from the cash records April 30 Bank Reconciliation Balance per bank $7,250 Add: Deposits in transit 1,650 Deduct: Outstanding cheques 2,800) Balance per books $6,100 Month of May Results Balance on May 31 May deposits May cheques May note collected (not induded in May deposits) Maybank service charge May NSF cheque from a customer, retumed by the bank (recorded by the bank as a charge) Per Bank Per Books $8.760 $8,650 4,910 5,600 4,490 3,495 1,055 35 375 Determine the amount of deposits in transit and outstanding cheques at May 31. Keeping in mind the time lag between deposits and cheques being recorded in the books and when they are recorded by the bank Deposits in transit, May 31 $ Outstanding cheques, May 31 $ HOW LIST OF ACCOUNTS LINK TO TEXT Prepare a Maybank reconciliation showing balance per bank statement and balance per books and correct cash balance. (List items that increase balance as per bank & books Pina Colada Corp. Bank Reconciliation May 31 Prepare the journal entry to correct the cash account at May 31 (Credit account titles are automatically Indented when amount is notered. Do not Indent manually. If no entry required, select "No Entry for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit