The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $97,456. The bank statement indicated a balance of $127,960 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 $30,050.
b. A deposit of $19,720, representing receipts of June 30, had been made too late to appear on the bank statement.
c. The bank collected $22,149 on a $20,700 note, including interest of $1,449.
d. A check for $1,450 returned with the statement had been incorrectly recorded by Pala Medical Co. as $145. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account.
e. A check drawn for $290 had been erroneously charged by the bank as $920.
f. Bank service charges for June amounted to $40.

Required:
a. Prepare a bank reconciliation.
b. Journalize the necessary entries.
c. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash?

marketing strategies should be established before marketing objectives are decided. t/f

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