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The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the

The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the May T-account for cash showed the transactions listed below. Martin Companys bank reconciliation at the end of April showed a cash balance of $19,700. No deposits were in transit at the end of April, but a deposit was in transit at the end of May.

Withdrawals Deposits Other Balance
Balance, May 1 $ 19,700
May 2 $ 8,900 28,600
May 5 # 301 $ 11,900 16,700
May 7 # 302 5,550 11,150
May 8 10,000 21,150
May 14 # 303 590 20,560
May 17Interest Earned $ 129 20,689
May 22NSF cheque 370 20,319
May 29 # 304 5,500 14,819
May 31Service charges 69 14,750
Balance, May 31 14,750

+ Cash (A)
May 1 Balance 19,700
May 1 8,900 11,900 May 02 #301
May 7 10,000 5,550 May 04 #302
May 29 4,900 590 May 11 #303
5,500 May 30 #304
1,390 May 29 #305
May 31 Balance 18,570

Required: 1. Prepare a bank reconciliation for May.

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.)

3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?

4. If the company also has $59 on hand, which is recorded in a different account called Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of May?

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