The bookkeeper at Martin Company has asked you to

prepare #2719
The bookkeeper at Martin Company has asked you to prepare a bank reconciliation as of May
31. The May 31 bank statement and the May T- account for cash (summarized) are on the next
page. Martin Company’s bank reconciliation at the end of April showed a cash balance of $
18,800. No deposits were in transit at the end of April, but a deposit was in transit at the end of
May.Required:1. Prepare a bank reconciliation for May.2. Prepare any journal entries Required.
as a result of the bank reconciliation. Why are they necessary?3. After the reconciliation journal
entries are posted, what balance will be reflected in the Cash account in the ledger?4. If the
company also has $ 50 of petty cash on hand, which is recorded in a different account called
Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on
the balance sheet at the end of May?View Solution:
The bookkeeper at Martin Company has asked you to prepare

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