Required information PAS-2 Preparing a Bank Reconciliation and Journal Entries and Reporting Cash [LO 5-4, LO 5-5] The following information applies to the questions displayed below. 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). Martin Company's bank reconciliation at the end of April showed a cash balance of $21,900. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. BANK STATEMENT Checks Deposits Other Balance Balance, May 1 May 2 May 5 May 7 May 8 May 14 May 17 May 22 May 27 $21,900 $9,000 30,900 18,900 11,500 22,500 21,930 22,120 21,770 16,470 #301 $12,000 # 302 es 7,400 11,000 # 303 570 Interest $190 350 NSF check # 304 5,300 Service May 31 95 16,375 charge Balance, May 31 16,375 Cash (A) May 1 Balance 21,900 May 1 May 7 9,000 11,000 12,000 #301 May 2 7,400 #302 May 4 May 11 May 29 570 # 303 7,400 May 23 5,300 # 304 May 2,000 #305 29 May 31 Balance 22,030 PA5-2 Part 1 Required: 1. Prepare a bank reconciliation for May. MARTIN COMPANY Bank Reconciliation At May 31 Bank Statement Company's Books Ending Balance Per Cash Account Additions: Ending Balance Per Bank Statement Additions: Deductions: Deductions: Up-to-Date Cash Balance Up-to-Date Cash Balance rences PA5-2 Part 2 2. Prepare any journal entries required 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 A Record the interest of $190 receipt from the bank. B Record the return of the customer check of $350 due to insufficient funds. C Record the service charges of $95 deducted by the bank. Credit Note: journal entry has been entered View general journal Clear entry Record entry PA5-2 Part 3 3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? Balance in Cash Account PA5-2 Part 4 4. If the company also has $85 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? Total Amount of Cash and Cash Equivalents