The cash account for Nonwegian Medical Co. at April 30 indicated a balance of $89,775. The bank statement indicated a balance of $125,160 on April 30 . Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding tolaled $31,540. b. A deposit of $18,000, representing receipts of April 30, had been made too late to appear on the bank statement. c. The bank collected $24,075 on a $22,500 note, including interest of $1,575. d. A check for $1,700 returned with the statement had been incorrectly recorded by Norwegian Medical Co. as $170. The check was for the payment of an obligation to Universal Supply Co. for a purchase on account. e. A check drawn for $290 had been erroneously charged by the bank as $920. f. Bank service charges for April amounted to $70. Required: 1. Prepare a bank reconciliation. Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions for the exact wording of text entries "Add:" or "Deduct:" will automatically appear if it is required. Enter all amounts as positive numbers. 2. Journalize the necessary entries. The accounts have not been closed. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. 3. If a balance sheet is prepared for Norwegian Medical Co. on April 30, what amount should be reported as cash? Instructions Chart of Accounts Labels and Amount Descriptions Chart of Accounts CHART OF ACCOUNTS Norwegian Medical Co. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense Chart of Accounts 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment LIABILITIES 211 Accounts Payable-Universal Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Selling Expenses 538 Store Supplies Expense 561 Depreciation Expense-Office Equipment 562 Depreciation Expense-Store Equipment 590 Miscellaneous Expense 710 Interest Expense April 30 For the Month Ended April 30 Amount Descriptions Bank error in charging check as $290 instead of $920 Bank error in charging check as $920 instead of $290 Bank service charges Check for $920 returned because of insufficient funds Deposit of April 30, not recorded by bank Error in recording check Error in recording deposit Note and interest collected by bank Outstanding checks 1. Prepare a bank reconciliation. Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions for the exact wording of text entries. "Add:" or "Deduct:" will automatically appear if it is required. Enter all amounts as positlve numbers. 2 3 4 5 Adjusted balance 8 7. Cash balance according to company's record's s @ 10 11 Adjusted balance 2. Joumalize the necessary entries. The accounts have not been closed. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 3. If a balance sheet is prepared for Nonvegian Medical Co. on April 30, what amount should be reported as cash