The cash account for Pala Medical Coat June 30, 2011, indicated a balance of $97456. The bank statement indicated a balance of 5127 960 on June 30, 20Y1 Comparing the bank statement and the accompanying canceled checks and memos with the recorde revealed the following reconcing terms a Checks outstanding totaled $30,050 A deposit of 510,720, representing recepts of June 30, had been made too late to appear on the bank statement c The bank collected $22.149 on a $20,700 note, nating interest of $1,440 4. Acheck for $1.450 returned with the statement had been incorrectly recorded by Pale Medical Cos 8146. The check was for the payment of an obligion to Skyline Supply Co for purchase on account e. Acheck drawn for $200 had been erroneously charged by the banks 5020 Bank service charges for une amounted to 540 Amount Descriptions Adjusted balance Bank error in charging check as $920 instead of $290 Bank service charges Deposit in transit on June 30 Deposit of June 30, not recorded by bank Error in recording check Outstanding checks Note collected by bank, including $1,449 interest Total additions Total deductions 1 Prepare a bank reconciliation Refer to the Amount Descriptions het provided for the exact wording of the newer choices for fest entries "Add" & "Dedictw automatically anpears required for those boxes in which you must enter subtracted or negative numbers use a minus sign Pata Medical Co Bank Reconciliation June 30, 2011 Cash balance according to Bank Statement * Gish balance according to company records PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTER DEBIT CREDIT ASSETS LABILITIES TOUITY Final Question 3. If a balance sheet were prepared for Pala Medical Co on June 30, 20Y1, what amount should be reported as cash? S 1 2 3 CHART OF ACCOUNTS Pala Medical Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue EXPENSES 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 181 Land 191 Office Equipment 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 192 Accumulated Depreciation Office Equipment Enose WWW Apes Chart of Accounts 191mce cyuipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable 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 EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends