The cash account for Pala Medical Co at June 30, 2011, indicated a balance of $165,436. The bank statement indicated a balance of $195,688 on June 30, 2011 Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling Items a. Checks outstanding totaled S19.427 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 S195 had been erroneously charged by the bank as 5915. t Bank service charges for June amounted to $55 . 1. Prepare a bank reconciliation Refer to the Amount Descriptions Ast provided for the exact wording of the answer choices for text entrios. "Add" & Deduct will automatically appear if it is required. For those boxes an which you must enter subtracted or negative numbers use a minus sign 2. Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account bites 3. a balance sheet were prepared for Pals Medical Co. on June 30, 20Y1, what amount should be reported as cash CHART OF ACCOUNTS Pala Medical Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable EXPENSES 510 Cost of Merchandise Sold 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 193 Store Equipment 534 Office Supplies Expense 194 Accumulated Depreciation Store Equipment 535 Rent Expense 536 Repairs Expense LIABILITIES 537 Selling Expenses 151 Prepaid Insurance 520 salaries Expense 181 Land 531 Advertising Expense 191 Office Equipment 532 Delivery Expense 533 Insurance Expense 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 537 Selling Expenses 538 Store Supplies Expense 561 Depreciation Expense-Office Equipment 562 Depreciation Expense-Store Equipment 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 590 Miscellaneous Expense 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 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 1. Prepare a bank reconciliation Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Add" & "Deduct"will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pala Medical Co. Bank Reconciliation June 30, 20Y1 1 Cash balance according to bank statement 3 5 # Cash balance according to company's records : 10 11 13 2 Journalize the necessary entries. Refer to the Chart of Accounts for exact wording of account tities PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTRO DERIT CREDIT ASSETS LITIES EQUITY 1 3 Final Question 3.fo balance sheet were prepared for Pala Medical Co on June 30, 2014 what amount should be reported as cash