The cash account for Pale Medical Co at June 30, 20Y1, indicated a balance of $4,457. The bank statement indicated a balance of $127,190 on June 30, 2071. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconcing tems: A Checks outstanding totaled $33,310 B. A deposit of $17,610, representing receipts of June 30, had been made too late to appear on the bank statement The bank colected $28 248 on a $26,400 note, including interest of $1,848 D. A check for $1,100 returned with the statement had been incorrectly recorded by Pala Medical Co as $110. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account E Acheck drawn for $680 had been erroneously charged by the bank as 5860 F. Bank service charges for June amounted to $45 Instructions 1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in 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 titles. 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2011, what amount should be reported as cash? CHART OF ACCOUNTS Pala Medical Co. General Ledger REVENUE 410 Sales 610 Interest Revenue 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 193 Store Equipment 194 Accumulated Depreciation Store Equipment 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 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 LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY CHART OF ACCOUNTS Pala Medical Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 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 193 Store Equipment 194 Accumulated Depreciation-Store Equipment 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 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 LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 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 LIABILITIES 211 Accounts Payable-Skyline Supply Co. 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary Amount Descriptions Adjusted balance Bank error in charging check as $680 instead of $860 Bank error in charging check as $860 instead of $680 Bank service charges Check for $860 returned because of insufficient funds Deposit of June 30, not recorded by bank Error in recording check Error in recording June 30 deposit Outstanding checks Proceeds of note collected by bank, including $1,848 interest Total adjustments 2. Prepare a bank reconciliation Peter as the Amount Descriptions est provided for the exact wereling of the answer choices for text entries. For those beves in which you must enter subtracted or negative numbers use a minus sign Pala Medical Co Bank Reconciliation June 30, 2011 1. Cash balance according to bank statement 2 Adjustments 3 4 5 7 Cash balance according to company's records 10 Adjustments 11 13 14 15 2 Journakze the necessary entries. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DENT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash? $