b. Prepare a new bank reconciliation for Poway Co., using the format shown in the illustrative problem. Poway Co. Bank Reconciliation June 30 Cash balance according to bank statement Add deposit of June 30, not recorded by bank $ Deduct outstanding checks - No. 1067 Deduct outstanding checks - No. 1106 Deduct outstanding checks - No. 1110 Deduct outstanding checks - No. 1113 Adjusted balance Cash balance according to company's records Add note and interest collected by bank Add error in recording June 17 deposit as $1,750 instead of $7,150 Deduct check returned because of insufficient funds Deduct service charges Adjusted balance Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement Add outstanding checks: $16,185 No. 1067 $575 1106 470 1110 1,050 1113 910 3,005 $19,190 6,600 $12,590 $8,985 Deduct deposit of June 30, not recorded by bank Adjusted balance Cash balance according to company's records Add: Proceeds of note collected by bank: Principal Interest $6,000 300 $6,300 Service charges 15 6,315 $15,300 $890 Deduct: Check returned because of insufficient funds Error in recording June 17 deposit of $7,150 as $1,750 5,400 6,290 Adjusted balance $ 9,010 a. Identify the errors in the above bank reconciliation. Item Correct