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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166.436. The banks statement indicated a balance of $195,688 on

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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of \$166.436. The banks statement indicated a balance of \$195,688 on June 30, 20Y Comparing the bank statement and the accompanying cancoled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $19,427. b. A deposit of $12,300, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $26,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. t. Bank service charges for June amounted to $55. Required: 1. Prepare a bank reconciliation. 2. Joumalize the necessary entrios. 3. If a balance sheot were preparod for Pata Modical Co. on June 30, 20Yt, what amount should be roported as cash? Chart of Accounts \begin{tabular}{|ll} \hline Chart of Accounts & 515 Credit Card Expense \\ 145 Office Supplies & 516 Cash Short and Over \\ 146 Store Supplies & 520 Salaries Expense \\ 151 Prepaid Insurance & 531 Advertising Expense \\ 181 Land & 532 Delivery Expense \\ 191 Office Equipment & 533 Insurance Expense \\ 192 Accumulated Depreciation-Office Equipment & 534 Office Supplies Expense \\ 193 Store Equipment & 535 Rent Expense \\ 194 Accumulated Depreciation-Store Equipment & 536 Repairs Expense \\ LlABILITIES & 537 Selling Expenses \\ 211 Accounts Payable-Skyline Supply Co. & 538 Store Supplies Expense \\ 221 Notes Payable & 561 Depreciation Expense-Office Equipment \\ 222 Interest Payable & 562 Depreciation Expense-Store Equipment \\ 231 Salaries Payable & 590 Miscellaneous Expense \\ 241 Sales Tax Payable & 710 Interest Expense \end{tabular} EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Labels and Amount Descriptions Labels For the Month Ended June 30, 20Y1 June 30,20Y1 Amount Descriptions Adjusted balance Bank error in charging check as $915 instead of $195 Bank service charges Deposit in transit on June 30 Error in recording check Note collected by bank, including $1,500 interest Outstanding checks Total additions Total deductions Bank Reconciliation Instructions Bank Reconciliation Instructions 2. Journalize the necessary entries. 3. If a balance sheet wore prepared for Pala Modical Co. on June 30,20Y1, what amount should be roportod as cash

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