Required Information E5-5 (Algo) Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4] [The following information applies to the questions displayed below.] Hills Company's June 30 bank statement and the June ledger account for cash are summarized here: Balance, June 1 Deposits during June Checks cleared during June. Bank service charges Balance, June 30 BANK STATEMENT Checks Deposits Other Balance $ 7,320 $18,600 25,920 $ 19,700 6,220 $ 31 6,189 6.189 Cash (A) Debit Credit June 1 June Balance Deponits June 30 Balance 7,320 20,200 7,520 20,000 Checks written June E5-5 (Algo) Part 1 Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June. Bank Statement Ending Balance per Bank Statement Additions: Deductions: HILLS COMPANY Bank Reconciliation June 30 Company's Books Ending Balance per Cash Account Additions: O O Deductions: Up-to-Date Cash Balance $ 0 Up-to-Date Cash Balance $ O O ok int E5-5 (Algo) Part 2 2. Prepare any journal entries that should be made as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < Record the service charges of $31 deducted by the bank. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general joumal E5-5 (Algo) Part 3 3. What is the balance in the Cash account after the reconciliation entries? Cash Balance E5-5 (Algo) Part 4 4. In addition to the balance in its bank account, Hills Company also has $390 of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June 307 Total Amount of Cash