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Solve Part $B$

Crane Company $of$ Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. $On$ May $31,2025,$ the company's Cash account per its general ledger showed a balance $of\frac{?}{(\frac{?}{?}\text{\$}6,848\mathrm{.}90\frac{?}{?}).}$

The bank statement from Emporia State Bank $on$ that date showed the following balance.

EMPORIA STATE BANK

A comparison $of$ the details $on$ the bank statement with the details $in$ the Cash account revealed the following facts.

$1.$ The statement included a debit memo $of\frac{?}{(\frac{?}{?}\text{\$}62\mathrm{.}00\frac{?}{?})}$ for the printing $of$ additional company checks.

$2.$ Cash sales $of\frac{?}{(\frac{?}{?}\text{\$}905\mathrm{.}15\frac{?}{?})}on$ May $12$ were deposited $in$ the bank. The cash receipts journal entry and the deposit slip were incorrectly made for $\frac{?}{(\frac{?}{?}\text{\$}955\mathrm{.}15\frac{?}{?}).}$ The bank credited Crane Company for the correct amount.

$3.$ Outstanding checks $at$ May $31$ totaled $\frac{?}{(\frac{?}{?}\text{\$}285\mathrm{.}25\frac{?}{?})},$ and deposits $in$ transit were $\frac{?}{(\frac{?}{?}\text{\$}1,902\mathrm{.}15\frac{?}{?}).}$

$4.On$ May $18,$ the company issued check $No.1181$ for $\frac{?}{(\frac{?}{?}\text{\$}684\mathrm{.}00\frac{?}{?})}toH.$ Moses, $on$ account. The check, which cleared the bank $in$ May, was incorrectly journalized and posted $by$ Crane Company for $\frac{?}{(\frac{?}{?}\text{\$}648\mathrm{.}00\frac{?}{?}).}$

$5.\frac{?}{(\frac{?}{?}\text{\$}2,822\mathrm{.}00\frac{?}{?})}$ was collected from a customer's note receivable $by$ the bank for Crane Company $on$ May $31$ through electronic funds transfer.

$6.$ Included with the canceled checks was a check issued $by$ Tomins Company $toC.$ Pernod for $\frac{?}{(\frac{?}{?}\text{\$}338\mathrm{.}00\frac{?}{?})}$ that was incorrectly charged $to$ Crane Company $by$ the bank.

$7.On$ May $31,$ the bank statement showed $anNSF$ charge $of\frac{?}{(\frac{?}{?}\text{\$}490\mathrm{.}00\frac{?}{?})}$ for a check issued $by$ Sara Ballard, a customer, $to$ Crane Company $on$ account.

$(a)$

Your answer $is$ correct.

Prepare the bank reconciliation $at$ May $31,2025.(List$ items that increase balance $as$ per bank $\frac{?}{?}$& books first. Round answers $to2$ decimal places, $e.g.\frac{?}{(5,275\mathrm{.}50\frac{?}{?}).})$

CRANE COMPANY

Bank Reconciliation

May $31,2025(b)$

Prepare the necessary adjusting entries for Crane Company $at$ May $31,2025.(Credit$ account titles are automatically indented when

amount $is$ entered. $Do$ not indent manually. $Ifno$ entry $is$ required, select $"No$ Entry" for the account titles and enter $O$ for the amounts. List

all debit entries before credit entries. Round answers $to2$ decimal places, $e.g.5,275\mathrm{.}50.)$

Date Account Titles and Explanation

Debit

Credit

May $31$

$(To$ record collection $of$ note$)$

May $31$

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