Willow Company's general ledger showed a checking account balance of $25,000 at the end of May 2006. The May 31 cash receipts of $3,000, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2006, showed bank service charges of $50. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,000. What was the cash balance per the May 2006 bank statement? A. $24,950 B. $27,950 C. $25,950 D. $23,950 E. NOTA Continue with #2. What value will Willow report for cash on its May 31st balance sheet? A. $24,950 B. $27,950 C. $25,950 D. $23,950 E. NOTA