Bank Reconciliation and Entries
The cash account for Brentwood Bike Co. at May 1 indicated a balance of $12,770. During May, the total cash deposited was $64,320 and checks written totaled $59,720. The bank statement indicated a balance of $21,800 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
Checks outstanding totaled $9,710.
A deposit of $7,910, representing receipts of May 31, had been made too late to appear on the bank statement.
The bank had collected for Brentwood Bike Co. $4,180 on a note left for collection. The face of
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