5. The bank portion of the bank reconciliation for Bogalusa Company at October 31, 2022 is shown below. 1 Bogalusa Company Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12,367.90 1.530.20 13,898.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $1,260.40 684.20 844-50 426.80 1,050.00 4,265.90 $ 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 and Debits Deposits and Credits 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 11-19 EFT 2,242.00 11-15 2479 1,750.00 11-21 2,945.00 11-18 2480 1,330.00 11-25 2,567.30 11-27 2481 695-40 11-28 1,650.00 11-28 SC 85.00 11-30 1,186.00 11-30 2483 575-50 Total $18.369.90 11-29 2486 940.00 Total $13,025-30 Date 11-1 11-2 11-2 Cash Payments Journal Amount Date Number $1,640.70 11-20 2483 2,830.00 11-22 2484 600.00 11-23 2485 538.20 11-24 2486 1,705.00 11-29 2487 1,330.00 11-30 2488 695.40 Total 612.00 Number 2475 2476 2477 2478 2479 2480 2481 2482 Amount $ 575-50 829.50 974.80 940.00 398.00 800.00 $14,469.10 11-4 11-8 11-10 11-15 11-18 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 from a customer 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 in the chapter, prepare a bank reconciliation at November 30, 2022. Bogalusa Company Bank Reconciliation November 30, 2022 [Cash balance per bank 17, 712.50 1,304.00 1,260.40 426.80 538.20 Less: Outstanding Checks Check # 2451 Check # 2472 Check #2478 Check # 2482 Check # 2484 Check # 2485 Check # 2487 Check # 2488 612.00 824.50 974.80 398,00 800.00 5,839.70 | Adjusted Bank Balance 13,176.80 Cash Balance as per books Add: Collection through EFT 11,073.80 2,242.00 13,315. 80 Less: Service Charges Correction of error in Cheek #2479 Correction of error in deposit date 11-20 85.00 45.00 9.00 139.00 13,176.80 Adjusted Cash Balance 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.) Date Description Debit Credit