The cash account for pala medical co. at june 30, 20y1, indicated a balance of $82,726. the bank statement indicated a balance of $128,040 on june 30, 20y1. comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:

a. checks outstanding totaled $34,090.
b. a deposit of $18,430, representing receipts of june 30, had been made too late to appear on the bank statement.
c. the bank collected $31,779 on a $29,700 note, including interest of $2,079.
d. a check for $1,900 returned with the statement had been incorrectly recorded by pala medical co. as $190. the check was for the payment of an obligation to skyline supply co. for a purchase on account.
e. a check drawn for $370 had been erroneously charged by the bank as $730.
f. bank service charges for june amounted to $55.

instructions

1. prepare a bank reconciliation. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries. "add: " & "deduct: " will automatically appear if it is required. for those boxes in which you must enter subtracted or negative numbers use a minus sign.

2. journalize the necessary entries. refer to the chart of accounts for exact wording of account titles.

3. if a balance sheet were prepared for pala medical co. on june 30, 20y1, what amount should be reported as cash?