Preparing a Bank Reconciliation and Journal Entries and Reporting Cash

Record the interest of $180 receipt from the bank. Note: Enter debits before credits. Record the service charges of $90 deducted by the bank. Note: Enter debits before credits. The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31 . The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $21,500. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. 4. If the company also has $80 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of May? 3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? Record the return of the customer check of $340 due to insufficient funds. Note: Enter debits before credits. The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31 . The May 31 bank statement and the May T-account for cash (summarized) are below. Martin Company's bank reconciliation at the end of April showed a cash balance of $21,500. No deposits were in transit at the end of April, but a deposit was in transit at the end of May