An examination of the cash activities during the year shows the following. GREAT ADVENTURES Cash Account Records July 1, 2021, to December 31, 2021 Cash Disbursements Cash Receipts Date Desc. Amount Date Check# Desc. 7/1 Stock sale $ 20,000 7/1 101 Insurance 7/15 Clinic receipts 2,000 7/2 102 Legal fees 7/22 Clinic receipts 2,300 7/7 DC Advertising Amount $ 4,560 1,400 280 7/30 Clinic receipts 4,000 7/8 103 Bikes 11,800 8/1 Borrowing 28,000 7/24 DC Advertising 680 8/10 Clinic receipts 3,000 8/4 104 Kayaks 25,200 8/17 Clinic receipts 10,500 8/24 DC Office supplies 1,780 9/21 Clinic receipts 13,000 9/1 105 Rent 2,160 10/17 Clinic receipts 17,700 12/8 106 Race permit 1,180 12/15 Race receipts 20,000 12/16 107 Salary 2,000 12/31 108 12/31 109 Dividend Dividend 2,000 2,000 $120,500 $55,040 Beginning Cash Balance July 1, 2021 $ 0 Summary of Transactions Ending Cash Receipts $120,500 - Cash Disbursements = $55,040 Cash Balance December 31, 2021 $65,460 Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks Summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month. SUMMIT BANK Member FDIC Account Holder: Leading You to the Top Great Adventures, Inc. Account Number: Statement Date: 1124537774 Dec. 31, 2021 Account Summary Beginning Balance Deposits and Credits Withdrawals and Debits July 1, 2021 $0 No 8 Total No $101,000 11 Total $49,240 Account Details Deposits and Credits Withdrawals and Debits Ending Balance December 31, 2021 $51,760 Daily Balance Date Amount Desc. Date No. Amount Desc. Date Amount 7/1 $ 20,000 DEP 7/1 101 $ 4,560 CHK 7/1 8/1 8,300 DEP 7/7 102 1,400 CHK 7/7 8/1 28,000 DEP 7/7 280 DC 7/14 $15,440 13,760 1,960 9/1 13,500 DEP 7/14 103 11,800 CHK 7/24 1,280 9/30 200 INT 7/24 680 DC 8/1 37,580 10/1 13,000 DEP 8/9 104 25,200 CHK 8/9 12,380 11/1 12/31 17,700 DEP 8/24 1,780 DC 8/24 10,600 300 INT 9/2 105 2,160 CHK 9/1 24,100 9/30 100 SF 9/2 21,940 12/10 12/31 106 1,180 CHK 9/30 22,040 100 SF 10/1 35,040 11/1 52,740 12/10 51,560 $101,000 $49,240 12/31 $51,760 Desc. DEP Customer deposit CHK Customer check INT Interest earned DC Debit card SF Service fees After comparing the two balances, Suzie has some concern because the bank's balance of $51,760 is substantially less than the company's balance of $65,460.