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The cash account for Brentwood Bike Co . at May 1 indicated a balance of $ 1 4 , 8 1 0 . During May,

The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,810. During May, the total cash deposited was $75,140 and checks written totaled $69,770. The bank statement indicated a balance of $25,470 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 $11,350.
A deposit of $9,240, representing receipts of May 31, had been made too late to appear on the bank statement.
The bank had collected for Brentwood Bike Co. $4,880 on a note left for collection. The face of the note was $4,510.
A check for $360 returned with the statement had been incorrectly charged by the bank as $630.
A check for $410 returned with the statement had been recorded by Brentwood Bike Co. as $140. The check was for the payment of an obligation to Adkins Co. on account.
Bank service charges for May amounted to $30.
A check for $1,130 from Jennings Co. was returned by the bank because of insufficient funds.
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1. Prepare a bank reconciliation as of May 31.2. Journalize the necessary entries (a.) that increase cash and (b.) 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. 3. If a balance sheet is prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?

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