The cash account for Brentwood Bike Co$.$ at May $1$ indicated a balance of $$14,460.$ During May, the total cash deposited was $$72,150$ and checks written totaled $$66,990.$ The bank statement indicated a balance of $$24,460$ 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 $$10,890.$

A deposit of $$8,870,$ representing receipts of May $31$ had been made too late to appear on the bank statement.

The bank had collected for Brentwood Bike Co$.$ $$4,690$ on a note left for collection. The face of the note was $$4,330.$

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

A check for $$630$ returned with the statement had been recorded by Brentwood Bike Co$.$ as $$360.$ The check was for the payment of an obligation to Adkins Co$.$ on account.

Bank service charges for May amounted to $$70.$

A check for $$1,080$ from Jennings Co$.$ was returned by the bank due to insufficient funds.

Instructions:

Question Content Area

$1.$ Prepare a bank reconciliation as of May $31.$

Brentwood Bike Co$.$

Bank Reconciliation

May $31$

Cash balance according to bank statement $fill in the blank ea$5$def$011$fb$9$fc$2\_1$

$$-$ Select $-$

$-$ Select $--$ Select $-$

$-$ Select $-$

Adjusted balance $fill in the blank ea$5$def$011$fb$9$fc$2\_9$

Cash balance according to company's records $fill in the blank ea$5$def$011$fb$9$fc$2\_10$

$-$ Select $-$

$$-$ Select $-$

$-$ Select $-$

$-$ Select $--$ Select $-$

Adjusted balance $fill in the blank ea$5$def$011$fb$9$fc$2\_20$