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Bank Reconciliation and Entries The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $10,835. The bank statement indicated a b alance of $12,450 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items aChecks outstanding totaled $4,480 b. A deposit of $4,670, representing receipts of June 30, had been made too late to appear on the bank statement C. The bank collected $2,430 on a $2,300 note, including Interest of $130 d. A check for $440 returned with had been the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligetion to Skyline Supply Co. for a purchase on account e. A check drawn for $60 had been erroneously charged by the bank as $600 f. Bank service charges for June amounted to $45 Required: 1. Prepare a bank reconciliation. Pala Medical Co ank Reconciiation une 30, 20Y Cash belance according to bank statement 12450 Deposit of June 30, not recerded by bank Bank error in charging check as s600 instead of 560 Outstanding checks Total adjustments Adjusted balance Cash balance according to company's records Previous Next Check My Work 3 more Chack My Work uses remaning

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