E$5-5($Algo$)$ Preparing a Bank Reconciliation and Journal Entries and Reporting Cash $[$LO $5-4]$

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Hills Company$$s June $30$ bank statement and the June ledger account for cash are summarized here:

BANK STATEMENT

Checks Deposits Other Balance

Balance, June $1$ $ $7,020$

Deposits during June $ $17,10024,120$

Checks cleared during June $ $18,2005,920$

Bank service charges $ $305,890$

Balance, June $305,890$

Cash $($A$)$

Debit Credit

June $1$ Balance $7,020$

June Deposits $17,20018,500$ Checks written June

June $30$ Balance $5,720$

E$5-5($Algo$)$ Part $4$

In addition to the balance in its bank account, Hills Company also has $$120$ of petty cash on hand. This amount is recorded in a separate account called Petty Cash on Hand. What is the total amount of cash that should be reported on the balance sheet at June $30?$