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On October 31,2024, a company general ledger shows a cash account balance of...

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Accounting

On October 31,2024, a company general ledger shows a cash account balance of $8,442. The company's cash receipts for the month total $74,620, of which $71,370 has been deposited in the bank. In addition, the company has written checks for $72,512, of which $71,252 has been processed by the bank.
The bank statement reveals an ending balance of $12,822 and includes the following items not yet recorded by the company: bank service fees of $300, note receivable collected by the bank of $6,500, and interest earned on the note of $1,070. After closer inspection, the company realizes that the bank incorrectly charged the company's account $900 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error.
Required:
Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31,2024.
Record the necessary entries to adjust the balance for cash.
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