Adams Enterprises began operations on January 2, 2017, depositing $40,000 in the bank. During this first month of business, the following transactions occurred that affected the Cash account in the general ledger:

Shortly after the end of January the company received its first bank statement:

In preparing to do the bank reconciliation, Adams Enterprises noticed that the $2,000 deposit on January 29 was a bank error and informed the bank. The bank will correct the error on the next bank statement.
Required
Prepare Adams Enterprises' bank reconciliation at January 31, 2017.

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Date Description Dr Cr Jan. 2 Deposit $40,000 5 Payment, cheque 001 8 Payment, cheque 002 $12,000 16,000 9 Cash sales 16,000 15 Payment, cheque 003 18 Cash sales 20 Bank loan 26 Equipment purchase, cheque 004 30 Payment on account, cheque 005 31 Cash sales 10,000 12,000 50,000 74,000 17,000 25,600 Description Balance Forward Withdrawals Deposits Date Jan01 Jan02 Jan07 Jan09 Jan13 Jan18 Jan20 Jan28 Jan29 Jan31 Jan31 Balance 40,000 16,000 12N 40,000 28,000 ( 1 101 Chq#002 Bank Loan 12N 16,000 28,000 40,000 90,000 16,000 18,000 17,952 17,960 50,000 Chq#004 74,000 2,000 Service Charge 48 Interest 102,048 120,008