The following information applies to the questions displayed below.]

Hills Companys June 30 bank statement and the June ledger account for cash are summarized here:

BANK STATEMENT
	Checks	Deposits	Other	Balance
Balance, June 1				$ 7,060
Deposits during June		$ 17,300		24,360
Checks cleared during June	$ 18,400			5,960
Bank service charges			$ 30	5,930
Balance, June 30				5,930

Cash (A)
Debit	Credit
June 1	Balance	7,060
June	Deposits	17,600	18,700	Checks written	June
June 30	Balance	5,960

E5-5 (Algo) Part 1

Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $300. Some of the checks that cleared in June were written prior to June. No deposits in transit were noted in May, but a deposit is in transit at the end of June.

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