uestion 21 Describe the difference between the accrual basis of accounting and cash basis of accounting. Path: p Words:0 Question 22 Using the following information, prepare a bank reconciliation for Jackson Co. for May 31 of the current year. Be sure to label your answer appropriately. (a) The bank statement balance is $10,125 (b) The cash account balance is $4,690 (c) Outstanding checks amounted to $3,110 (d) Bank service charge is $50 (e) Note collected by bank, including interest is $7,100 () Deposits in transit are $4,725