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Pint hem Bank Reconcilation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,470. During May, the total
Pint hem Bank Reconcilation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,470. During May, the total cash deposited was $66,910 and checks written totalied $62,130. The bank statement indicated a balance of $2,680 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconiling tema a. Cecks outstanding totaled s10,100. b. A deposit of $8,230, representing receipts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. $4,350 on a note left for collection. The face of the note was $4,010. d. A check for $490 returned with the statement had been incorrectly charged by the bank as $940 e. A check for $410 returned with the statement had been recorded by Brentwood Bike Co. as $140. The check was for the payment of an obligation to Adkins Co. on account. f. Bank service charges for May amounted to $70. 9. A check for $1,000 from Jennings Co. was returned by the bank because of insufficient funds Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconcililation May 31 Cash balance according to bank statement Adjusted balance Previous Check My Work 2 more Check My Work uses remaining nment Score: 0 0% Email Instructor Save and Exit Submit Assignment for Grading
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