the cash account for brentwood bike co. at `may 1, 2016 indicated a balance of $34,250. During May, the total cash deposited was $140,300, and checks written totaled $138880. The bank statement indicated a balance of $43525 on May 31. Comparing the `bank statement, the cancelled checks, and the accompanying memos with the records revealed the following reconciling items:

a. Checks outstanding totaled $6440

b. A deposit of $1,850 representing` receipts for May 31, had been made too late to appear on the bank statement.

c. The` bank had collected for Brentwood Bike Co. $5250 on a note left for collection. The face of the note was $5000

d. A check for $390 returned with the statement had been incorrectly charged by the bank as $930.

e A check for $210 returned with the statement had been recorded by Brentwood Bike Co. as $120. The check was for the payment of an obligation to Adkins Co. on account.

f. Bank service charges for May amounted to $30

g. A check for $1,325 from Jennings Co. was returned by the bank due to insufficient funds.

1. Prepare a bank reconciliation as of May 31.

2. Journalize the necessary entries. The accounts have not been closed.

3. If a balance sheet were prepared for Brenwood Bike Co. On May 31, 2016 what amount should be reported as cash?

Problem 8-4A Name: Section: Score: 0% Key Code: Instructions [Key code here] Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. An asterisk (*) will appear to the right of an incorrect entry. 1. BRENTWOOD BIKE CO. Bank Reconciliation May 31, 2016 Balance per bank statement Add: Subtotal Deduct: Adjusted balance Balance per company's records Add: Subtotal Deduct: Adjusted balance 2. 3. Amount to be reported as cash on May 31, 2016, balance sheet