Question 8 of 20 - / 12 CASH No. 101 Date Explanation Ref Debit Credit Balance May 31 Balance 6,294 The bank statement from Canada Bank on that date showed the following balance: CANADA BANK Checks and Debits Deposits and Credits Daily Balance XXX XXX 5/31 6,260 A comparison of the details on the bank statement with the details in the Cash account revealed the following facts. 1. The statement included a debit memo of $40 for the monthly bank service charges. 2. Cash sales of $769 on May 12 were deposited in the bank. The bookkeeper recorded the deposit in the cash journal as $779. 3. Outstanding cheques on May 31 totalled $474 and deposits in transit were $1,321. 4. On May 18, the company issued cheque #1581 for $686 to M. Datz on account. The cheque, which cleared the bank in May, was incorrectly journalized and posted by Sandhill Theatre for $668. 5. A $2,300 note receivable was wired to the bank account of Sandhill Theatre on May 31. Interest was not collected for the note. 6. Included with the cancelled cheques was a cheque issued by Bohr Theatre for $550 that was incorrectly charged to Sandhill Theatre by the bank. Question 8 of 20