The bank portion of the bank reconciliation for Bogalusa Company at October 31, 2017, is shown below.

BOGALUSA COMPANY Bank Reconciliation October 31, 2017 Cash balance per bank $12,367.90 Add: Deposits in transit 1,530.20 13,898.10 Less: Outstanding checks Check Number Check Amount 2451 $1,260.40 2470 684.20 2471 844.50 2472 426.80 2474 1,050.00 4,265.90 Adjusted cash balance per bank $ 9,632.20 The adjusted cash balance per bank agreed with the cash balance per books at October 31.

The November bank statement showed the following checks and deposits.

Bank Statement Checks Deposits Date Number Amount Date Amount 11-1 2470 $ 684.20 11-1 $ 1,530.20 11-2 2471 844.50 11-4 1,211.60 11-5 2474 1,050.00 11-8 990.10 11-4 2475 1,640.70 11-13 2,575.00 11-8 2476 2,830.00 11-18 1,472.70 11-10 2477 600.00 11-21 2,945.00 11-15 2479 1,750.00 11-25 2,567.30 11-18 2480 1,330.00 11-28 1,650.00 11-27 2481 695.40 11-30 1,186.00 11-30 2483 575.50 Total $16,127.90 11-29 2486 940.00 Total $12,940.30 The cash records per books for November showed the following.

(a) Adjusted cash bal. $7,024.00 Prepare a bank reconciliation and adjusting entries from detailed data.

(LO 3), AP Cash Payments Journal Date Number Amount Date Number Amount 11-1 2475 $1,640.70 11-20 2483 $ 575.50 11-2 2476 2,830.00 11-22 2484 829.50 11-2 2477 600.00 11-23 2485 974.80 11-4 2478 538.20 11-24 2486 940.00 11-8 2479 1,705.00 11-29 2487 398.00 11-10 2480 1,330.00 11-30 2488 800.00 11-15 2481 695.40 Total $14,469.10 11-18 2482 612.00 Cash Receipts Journal Date Amount 11-3 $ 1,211.60 11-7 990.10 11-12 2,575.00 11-17 1,472.70 11-20 2,954.00 11-24 2,567.30 11-27 1,650.00 11-29 1,186.00 11-30 1,304.00 Total $15,910.70 The bank statement contained two bank memoranda:
1. A credit of $2,242 for the collection for Bogalusa Company of an electronic funds transfer.
2. A debit for the printing of additional company checks $85.
At November 30, the cash balance per books was $11,073.80 and the cash balance per bank statement was $17,712.50. The bank did not make any errors, but Bogalusa Company made two errors.
Instructions

(a) Using the steps in the reconciliation procedure described on pages 355–356, prepare a bank reconciliation at November 30, 2017.

(b) Prepare the adjusting entries based on the reconciliation. (Note: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.)