(a) Concord Company is a very profitable small business. It has not, however given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum, the company has combined the jobs of cashier and bookkeeper. As a result, Bret Turrin handles all cash receipts, keeps the accounting records, and prepares the monthly bank reconciliations. Prepare a correct bank reconciliation. (Hint: Deduct the amount of the theft from the adjusted balance per books.) (Round answers to 2 decimal places, eg 52.75. List items that increase cash balance first Reconcile cash balance per bank first) The balance per the bank statement on October 31, 2020, was $17,740. Outstanding checks were No. 62 for $140.00. No. 183 for $183, No. 284 for $266.50, No. 862 for $200.70, No. 863 for $236.00, and No. 864 for $180.40. Included with the statement was a credit memorandum of $157.10 indicating the collection of a note receivable for Daisey Company by the bank on October 25. This memorandum has not been recorded by Daisey. CONCORD COMPANY Bank Reconciliation Balance Per Bank Statement $ The company's ledger showed one Cash account with a balance of $22,000.00. The balance included undeposited cash on hand. Because of the lack of internal controls, Bret took for personal use all of the undeposited receipts in excess of $4.620.00. He then prepared the following bank reconciliation in an effort to conceal his theft of cash. Less V Outstanding Checks $22,000.00 Add Cash balance per books, October 31 Add: Outstanding checks No. 862 No. 863 No. 864 $200.70 236.00 180.40 $ Less: Undeposited receipts Unadjusted balance per bank, October 31 Less: Bank credit memorandum Cash balance per bank statement, October 31 517.10 22.517.10 4,620.00 17.897.10 157.10 $17.740 $ $ : $