The cash account of Mason Products reveals the following information:

The bank statement for May contains the following information:

A comparison of detailed company records with the bank statement indicates the following information:

The bank amounts are determined to be correct.
Required:
1. Prepare a bank reconciliation for May.
2. Prepare the adjusting entries made by Mason Products as a result of the reconciliation process.
3. What amount is reported for cash on the balance sheet at May 31?

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Cash Balance, 4/30 Deposilts during May 10,100 39,600 Checks written during May 40,000 Bank balance, 4/30 $10,100 37,400 47,500 Add: Deposits during May Less: Checks paid during May Bank balance, 5/31 $(38,500) (140) NSF check from Higgins Inc. Bank service charges (60) (38,700) $ 8,800 Deposit in transit Outstanding checks At 4/30 At 5/31 $900 $2,200 550 ,500