PR$\mathrm{.}08\mathrm{.}04.$BLANKSHEET.AL$...$

Instructions

The cash account for Brentwood Bike Co$.$ at May $1$ indicated a balance of $$34,800.$ During May, the total cash deposited was $$139,523,$ and checks written totaled $$138,774.$ The bank statement indicated a balance of $$43,875$ on May $31.$ Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

a$.$ Checks outstanding totaled $$6,340.$

b$.$ A deposit of $$1,643$ 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$.$ $$5,565$ on a note left for collection. The face of the note was $$5,300.$

d$.$ A check for $$260$ returned with the statement had been incorrectly charged by the bank as $$620.$

e$.$ A check for $$210$ returned with the statement had been recorded by Brentwood Bike Co$.$ as $$120.$ The check was for the payment of an obligation to Adkins Co$.$ on account.

f$.$ Bank service charges for May amounted to $$22.$

g$.$ A check for $$1,464$ from Jennings Co$.$ was returned by the bank due to insufficient funds.

Required:

Prepare a bank reconciliation as of May $31.$ Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions for the exact wording of text entries. "Deduct:" or "Add:" will automatically appear if it is required. Whenever there is more than one adjusting item in the bank portion of the reconciliation or the general ledger portion of the bank reconciliation,