The cash account for Santiago Co. on May 31 indicated a balance of $20,915. The March bank statement indicated an ending balance of $25,645. Comparing the bank statement, the canceled checks, and the accompanying mernos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,975 A deposit of $3,796 had been made too late to appear on the bank statement. A check for $1,482 returned with the statement had been incorrectly recorded by the company as $482. The check was originally issued to pay on account. The bank collected $4,515 on a note left for collection of which $515 was interest revenue. Bank service charges for May amounted to $70. A check for $894 was returned by the bank because of insufficient funds. d. e. f. Prepare a bank reconciliation as of May 31. Santiago Co. Bank Reconciliation May 31 25.645 Cash balance according to bank statement Adjustments: Add notes receivable Outstanding checks 4,515 5,975 Total adjustments -1.450 Adjusted balance 23.446 20,915 Cash balance according to company's records Adjustments: Proceeds of note and interest collected by bank Error in recording check Bank service charge -1.515 1.000 -70 891 Nonsufficient funds check Total adjustments Adjustments: Add notes receivable 4,515 Outstanding checks 5,975 Total adjustments -1,460 Adjusted balance 23.446 20,915 Cash balance according to company's records Adjustments: Proceeds of note and interest collected by bank -4,515 Error in recording check 1,000 Bank service charge -70 Nonsufficient funds check 894 Total adjustments Adjusted balance 23,466 Journalize the necessary entries. Record the entry to increase cash first. If an amount box does not require an entry, leave it blank or enter "O". May 31 Cash 4,515 Note Receivable 4,000 Interest Revenue 515 31 Accounts Payable Notes Payable Accounts Receivable Cash