On December 1, 20X1, Sofia Sartori, the accountant for Classic Appliances, downloaded the company’s November 30, 20X1, bank statement from the bank’s website. The balance shown on the bank statement was $30,734. The November 30, 20X1, balance in the Cash account in the general ledger was $17,630. Sofia noted the following differences between the bank’s records and the company’s Cash account in the general ledger.
a. The following checks were outstanding: Check 4129 for $1,592 and Check 4130 for $229.
b. A deposit of $1,234 made after banking hours on November 30 did not appear on the November 30 bank statement.
c. An automatic debit of $923 on November 30 from ClearComm for telephone service appeared on the bank statement but had not been recorded in the company’s accounting records.
d. An electronic funds transfer for $13,150 from Bella Cucina, a customer located in Italy, was received by the bank on November 30.
e. Check 4122 was correctly written and recorded for $1,300. The bank mistakenly paid the check for $1,100.
f. The accounting records indicate that Check 4125 was issued for $980 to make a purchase of equipment. However, examination of the check online showed that the actual amount of the check was for $890.

INSTRUCTIONS
1. Prepare a bank reconciliation for the firm as of November 30.
2. Record general journal entries for the items on the bank reconciliation that must be journalized. Date the entries November 30, 20X1. Use 44 as the page number.

Analyze: 

What was the effect on total assets as a result of the general journal entries recorded?