tem Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,990. During May, the total cash deposited was $70,230 and checks written totaled $65,210. The bank statement indicated a balance of $23,810 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $10,600 b. A deposit of $8,610, representing receipts of May 31, had been made too late to appear on the bank statement. c. The bank had collected for Brentwood Bike Co. 54,560 on a note left for collection. The face of the note was $1,210. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. e. A check for $970 returned with the statement had been recorded by Brentwood Bike Co. as $790. The check was for the payment of an obligation to Adkins Co. on account f. Bank service charges for May amounted to $40. 9. A check for $1,050 from Jennings Co. was returned by the bank because of insufficient funds, Instructions: 1. Prepare a bank reconciliation as of May 31. Brentwood Bike Co. Bank Reconciliation May 31 Cash balance according to bank statement