The following bank statement for the month of May is for El Guapo Industries:

The following information was taken from the books at El Guapo:

Required
Prepare El Guapo's May bank reconciliation and prepare any necessary journal entries resulting from the reconciliation.

Transcribed Image Text:

Bank Statement Checks Deposits Balance 12,000 Balance, May 1 Deposits recorded during May Checks cleared during May 34,000 NSF checks Hugo Company 2,500 Interest collected on note receivable Bank service charge Service charge for new checks Balance, May 31 46,000 5,600 35 65 27,000 Balance, May 1 Deposits during May Checks written during May 12,000 48,500 36,500