ACCT 311_CH 5 Quiz Saved Help Save & Exit Submit Up-to-date cash balance $ 0 Up-to-date cash balance 3 20 points 2. Prepare any journal entries required as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet ACCT 311_CH 5 Quiz i Saved Help Save & Exit Submit 3 The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May 31. The bank statement for May 1 and the May T-account for cash showed the transactions listed below. Martin Company's bank reconciliation at the end of April showed a cash balance of $19,700. No deposits were in transit at the end of April, but a deposit was in transit at the end of May. 20 Withdrawals Deposits Other Balance points Balance, May 1 $19, 70 May 2 $ 8,900 28, 600 May 5 # 301 $11, 900 16,700 May 7 # 302 5 ,55 11, 150 May 8 10, 000 21, 150 May 14 # 303 590 20, 560 May 17-Interest Earned $ 129 20, 689 May 22-NSF cheque 370 20, 319 May 29 # 304 5,500 14, 819 May 31-Service charges 69 14, 750 Balance, May 31 14, 750 + Cash (A) - May 1 Balance 19, 700 May 1 3,900 11, 900 May 02 #301 May 7 10, 000 5,550 May 04 #302 May 29 4,900 590 May 11 #303 5,500 May 30 #304 1, 390 May 29 #305 May 31 Balance 18,570 Required: 1. Prepare a bank reconciliation for May. MARTIN COMPANY Bank Reconciliation At May 31 Bank Statement Company's Books Ending balance per bank statement Ending balance per Cash account Additions: Additions: 0 0 Deductions: Deductions: Mc graw ACCT 311_CH 5 Quiz i Saved Help Save & Exit Submit Bank Reconciliation At May 31 3 Bank Statement Company's Books Ending balance per bank statement Ending balance per Cash account Additions: Additions: 20 0 0 points Deductions: Deductions: Up-to-date cash balance $ 0 Up-to-date cash balance $ 2. Prepare any journal entries required as a result of the bank reconciliation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet ACCT 311_CH 5 Quiz Saved Help Save & Exit Submit Record the interest earned on May 17. 3 Note: Enter debits before credits. Date General Journal Debit Credit 20 May 17 points Record entry Clear entry View general journal 3. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger? Cash balance 4. If the company also has $59 on hand, which is recorded in a different account called Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the balance sheet at the end of May? Cash and Cash Equivalents Mc Graw