Following is information on the Canada Company. Required: Prepare a bank reconciliation and general journal entries for the month of May. Cash Account 101 Credit Balance $87,500 Date Explanation PR Debit Apr 30Balance May 1 Payment of May rent #3410 Establish petty cash fund #3411 GI $20,000 $67,500 G1 $300 $67,200 Collected from Smith Inc. GI $24,059 $91,259 Payment to Lethbridge Co #3412 11 Received payment from Calgary Co GI $9,800 26 Payment of May utilities #3413 29 Withdrawal by owner # 3414 S45,325 $45,934 $55,734 G2 $2,565 S53,169 G2 $3,600 $49,569 30 Collected on account from Alberta CoG2 S5,121 %2454,690 30 May payroll net pay total #3415 S60,650 -S5,961 30 Petty cash reconciliation # 3416 G2 $275-$6,236 $119.565 30 Cash sales for May G2S125,800 Canada Company Bank Reconciliation April 30, 2020 Balance Per Bank Add: Deposit in Transit $83,540 Book Balance $4,500 S87,500 Total $88,040 Outstanding Cheques 3409 Adjusted Bank Balance S540 $87,500 Adjusted Bank Balance S87,500 Bank Statement First Provincial Bank of Taber TO: Canada Company May 31, 2020 Bank Statement First Provincial Bank TO: Canada Company Taber May 31, 2020 Cheques/Charges Deposits S83,540 # 3409 5/2/200X $540 5/1/200X $4,500 S87,500 $67,500 #3410 5/3/200XS20,000 # 3412 5/9/200XS45,325 # 3411 5/9/20Ox 5/5/200X $24,059 $91,559 $46.234 $45,934 S300 5/11/200X $9,680 $55,614 #34135/27/200x $2,565 $53,049 # 34155/30/200XS60,650 -$7,601 -SI1,201 -S11,201 5/30/200X $5,121 -$6,080 -$6,580 $45 $6,585 # 34145/30/200X $3,600 OvrDrf5/31/200X $500 sCS/31/200X $50 05/31 Int

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.