Conga NUW2 Online teaching and learning resource from Cengage Learning eBook Show Me How Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 2011, indicated a balance of $13,655. The bank statement indicated a balance of $16,090 on June 30, 2021. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $5,790. b. A deposit of $6,030, representing receipts of June 30, had been made too late to appear on the bank statement C. The bank collected $3,140 on a $2,980 note, including interest of $160. d. A check for $770 rett ned with the statement had been incorrectly recorded by Pala Medical Co. as $700. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $40 had been erroneously charged by the bank as $400. f. Bank service charges for June amounted to $35. Required: 1. Prepare a bank reconciliation Pala Medical Co. Bank Reconciliation June 30, 2011 Cash balance according to bank statement Adjustments: Total adjustments Adiusted balance Previous Next > Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 2011 June 30 b. June 30 Previous Next > 17 Email Instructor Submit Assignment for Gradies Total adjustments Adjusted balance 2. Journalize the necessary entries (a.) that increase cash and (b) that decrease cash. The accounts have not been closed. For a compound transaction, if an amount box does not require an entry, leave it blank. a. 20Y1 June 30 b. June 30 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 2001, what amount should be reported as cash? Previous Next Email Instructor Submit Assignment for Grading 30