Quiz 7 Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $9,025. The bank statement indicated a balance of $9,920 on June 30, 2011. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $3,570. b. A deposit of $3,720, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $1,930 on a $1,840 note, including interest of $90. d. A check for $550 returned with the statement had been incorrectly recorded by Pala Medical Co. as $500. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $90 had been erroneously charged by the bank as $900. f. Dank service charges for June amounted to $25. Required: 1. Prepare a bank reconciliation. Pala Medical Co. Bank Reconciliation June 30, 201 Cash balance according to bank statement Adjustments Total adjustments Adjusted balance 000 All work saved Previous Next> SubTest for Grading