Wolverine Genetics Company of Flint, Michigan, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2010, the company?s cash account per its general ledger showed the following balance.

The bank statement from Flint State Bank on that date showed the following balance.

A comparison of the details on the bank statement with the details in the cash account revealed the following facts.1. The statement included a debit memo of $35 for the printing of additional company checks.2. Cash sales of $1,720 on May 12 were deposited in the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $1,820.The bank credited Wolverine Genetics Company for the correct amount.3. Outstanding checks at May 31 totaled $1,225, and deposits in transit were $2,100.4. On May 18, the company issued check no. 1181 for $911 to G. Fischer, on account. The check, which cleared the bank in May, was incorrectly journalized and posted by Wolverine Genetics Company for $119.5. A $4,000 note receivable was collected by the bank for Wolverine Genetics Company on May 31 plus $80 interest. The bank charged a collection fee of $25.No interest has been accrued on the note.6. Included with the cancelled checks was a check issued by Carr Company to Henry Ford for $900 that was incorrectly charged to Wolverine Genetics Company by the bank.7. On May 31, the bank statement showed an NSF charge of $1,308 for a check issued by Bo Sclembech, a customer, to Wolverine Genetics Company on account.Instructions(a) Prepare the bank reconciliation at May 31, 2010.(b) Prepare the necessary adjusting entries for Wolverine Genetics Company at May 31,2010.

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NO. 101 CASH Debit Credit Balance Date May 31 Ref. Explanation 13.287 Balance