The cash account for Brentwood Bike Co. at May 1 indicated a balance of $13,860. During May, the total cash deposited was $69,570 and checks written totaled $64,600. The bank statement indicated a balance of $23,580 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

Checks outstanding totaled $10,510.

A deposit of $8,560, representing receipts of May 31, had been made too late to appear on the bank statement.

The bank had collected for Brentwood Bike Co. $4,520 on a note left for collection. The face of the note was $4,170.

A check for $270 returned with the statement had been incorrectly charged by the bank as $720.

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.

Bank service charges for May amounted to $50.

A check for $1,040 from Jennings Co. was returned by the bank because of insufficient funds.

bank reconciliation as of May 31

Journalize the necessary entries that increase cash and that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank.

May 31

May 31

May 31