Does "good deeds do away with misdeeds" imply that good and bad deeds cancel out?

This question relates to: > And establish prayer at the two ends of the day and at the approach of the night. Indeed, **good deeds do away with misdeeds**. That is a reminder for those who remember. > Qur'an 11:114 I'm wondering if this means: 1. good deeds and bad deeds cancel out, i.e., the reward for a good deed is lost if it is used to "do away with misdeeds", or 2. in addition to good deeds "doing away with misdeeds", they are rewarded (with the reward equal to if no bad deeds were committed). **Question**: Does "good deeds do away with misdeeds" imply that good and bad deeds cancel out, or that there is still a reward for good deeds? (Also related is *...a good deed will have ten times the like thereof ... an evil deed will not be recompensed except the like thereof...* Qur'an 6:160 .)