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The following data represents information necessary to assist in preparing the October 31, 2022 bank reconciliation for Hard Work Company.

The October 31 bank balance was $5,831.

The bank statement indicated a deduction of $22 for all bank service charges.

A customer deposited $1,300 directly into the bank account to settle an outstanding accounts receivable bill.

Cheque #665 for $1,000 and cheque #672 for $700 have been recorded in the company ledger but did not appear on the bank statement.

A customer paid an amount of $4,420 to Hard Work Company on October 31 but the deposit did not appear on the bank statement.

The accounting clerk made an error and recorded a $120 cheque as $1,200. The cheque was written to pay an outstanding accounts payable account.

Cheque #8116 for $150 was deducted from Hard Work Company's account by the bank. This cheque was not written by Hard Work Company and needs to be reversed by the bank.

The bank included an NSF cheque in the amount of $320 relating to a customer's payment. The NSF fee was $10.

The general ledger cash account showed a balance of $6,673 on October 31.

Required a) Complete the bank reconciliation for Hard Work Company. b) Write the necessary journal entries to correct Hard Work Company's records.

Do not enter dollar signs or commas in the input boxes. Do not use negative signs.

a)

Hard Work Company Bank Reconciliation October 31, 2022
Cash balance per bank statement		Answer	Cash balance per books		Answer
Add			Add
Outstanding deposit	Answer		EFT deposit	Answer
Bank error	Answer	Answer	Ledger error	Answer	Answer
Deduct outstanding cheques			Deduct
Cheque #665	Answer		NSF cheque	Answer
Cheque #672	Answer	Answer	NSF service charge	Answer
			Bank service charge	Answer	Answer
Adjusted bank balance		Answer	Adjusted book balance		Answer

Enter the relevant journal entries in the order of transaction appearance above. Remember, not all transactions will require journal entries.

b)

Date	Account Title and Explanation	Debit	Credit
2022
Oct 31	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue	Answer
	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue		Answer
	To record bank charges
Oct 31	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue	Answer
	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue		Answer
	To record collection of accounts receivable
Oct 31	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue	Answer
	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue		Answer
	To correct the record of accounts payable
Oct 31	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue	Answer
	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue		Answer
	To record NSF cheque
Oct 31	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue	Answer
	AnswerAccounts Payable/Accounts Receivable/Bank Charges Expense/Cash/Cost of Goods Sold/Equipment/Insurance Expense/Interest Expense/Interest Payable/Interest Revenue/Salaries Expense/Sales Revenue/Unearned Revenue		Answer
	To record NSF Fee

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