Questionank Reconciliation Shaded cells have feedb: Bank Reconciliation
Instructions The cash account for Pala Medical Co. at June 30, 20Y1, indicate balance of $\$ 166,436$. The bank statement indicated a balance of $\$ 195,688$ on June 30, 20Y1. Comparing the bank statement and accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $\$ 19,427$. b. A deposit of $\$ 12,300$, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $\$ 26,500$ on a $\$ 25,000$ note, including interest of \$1,500. d. A check for$\$4,000$ returned with the statement had been incorrectly recorded by Pala Medical Co. as $\$ 400$. The check was for the payment of an obligation to Skyline Supply Co. for appurchase on account. e. A check drawn for $\$ 195$ had been erroneously charged by the bank as $\$ 915$. f. Bank service charges for June amounted to $\$ 55$.