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On October 31, 2021, the bank statement for a company shows a balance of $12,311,...

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Accounting

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On October 31, 2021, the bank statement for a company shows a balance of $12,311, while the company's records show a balance of $8,421. Information that might be useful in preparing a bank reconciliation follows: --The company's cash receipts for the month total $74,480, of which $71,335 has been deposited in the bank. --The company has written checks for $72,491, of which $71,126 has been processed by the bank. -Bank service fees of $230 are listed on the bank statement --In accordance with prior authorization, the bank collected a note receivable of $5,800 and interest earned on the note of $720. --The bank made an automatic withdrawal in error of $620 that should have been charged to different customer's account The bank agrees to the error Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)

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