Bank colon and Entries The cash account for Brentwood Bike Coat May 1 indicated a balance of 514,200. During May, the total cash deposted was 71,760 and checks written totaled 566,600. The bank statement indicated a balance of $24,330 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memes with the records revealed the following reconciling items: Chedis outstanding totaled $10,840 . A deposit of $8,830, representing receipts of May 31, had been made too late to spear on the bank Matement The bank had collected for Brentwood Bike Co. 54,600 ons Hotebol for collection. The face of the note was $4,310 d. A check for $580 returned with the statement had been incorrectly charged by the bank as 5850 c. A check for $630 returned with the statement had been recorded by Brentwood Bike Co as $360. The check was for the payment of an obligation to Addons Co, on account Bank service charges for May amounted to $50. 9. A check for $1,080 from Jennings Co. was returned by the bank because of insufficient funds. Instructions I. Prepare a bank reconciliation as of May 31 Brentwood Bike Co. Blank Reconciliation May 31 Cash balance according to bank statement OOON Adjusted balance Cash balance according to company's records Adjusted balance 2. Journalise the necessary entries (a) that increase cash and (b) that decree cashThe accounts have not been doned. For a compound traction, famount box does not require an entry, leave it blank # May 31 lblI 100 III vill b. May 31 3. If a balance sheet were prepared for Brentwood Ike Co. on May 31, what amount should be reported as cash