An examination of the cash activities during the year shows the following.

GREAT ADVENTURES
Cash Account Records
July 1, 2024, to December 31, 2024
Cash Receipts			Cash Disbursements
Date	Description	Amount	Date	Check number	Description	Amount
7/1	Stock sale	$30,000	7/1	101	Insurance	$5,760
7/15	Clinic receipts	1,800	7/2	102	Legal fees	1,900
7/22	Clinic receipts	2,760	7/7	DC	Advertising	380
7/30	Clinic receipts	3,600	7/8	103	Bikes	12,800
8/1	Borrowing	38,000	7/24	DC	Advertising	780
8/10	Clinic receipts	5,100	8/4	104	Kayaks	39,200
8/17	Clinic receipts	11,900	8/24	DC	Office supplies	1,880
9/21	Clinic receipts	14,000	9/1	105	Rent	3,360
10/17	Clinic receipts	18,700	12/8	106	Race permit	1,280
12/15	Race receipts	30,000	12/16	107	Salary	2,000
			12/31	108	Dividend	3,000
			12/31	109	Dividend	3,000
		$155,860				$75,340

Summary of Transactions
Beginning Cash Balance July 1, 2024	+	Cash Receipts		Cash Disbursements	=	Ending Cash Balance December 31, 2024
$0		$155,860		$75,340		$80,520

Suzie has not reconciled the companys 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 Leading You to the Top							Member FDIC
Account Holder:		Great Adventures, Incorporated			Account Number:		1124537774
					Statement Date:		December 31, 2024
Account Summary
Beginning Balance July 1, 2024		Deposits and Credits			Withdrawals and Debits		Ending Balance December 31, 2024
		Number		Total	Number	Total
$0		8		$126,160	11	$67,440	$58,720
Account Details
Deposits and Credits			Withdrawals and Debits				Daily Balance
Date	Amount	Description	Date	Number	Amount	Description	Date	Amount
7/1	$30,000	DEP	7/1	101	$5,760	CHK	7/1	$24,240
8/1	8,160	DEP	7/7	102	1,900	CHK	7/7	21,960
8/1	38,000	DEP	7/7		380	DC	7/14	9,160
9/1	17,000	DEP	7/14	103	12,800	CHK	7/24	8,380
9/30	100	INT	7/24		780	DC	8/1	54,540
10/1	14,000	DEP	8/9	104	39,200	CHK	8/9	15,340
11/1	18,700	DEP	8/24		1,880	DC	8/24	13,460
12/31	200	INT	9/2	105	3,360	CHK	9/1	30,460
			9/30		50	SF	9/2	27,100
			12/10	106	1,280	CHK	9/30	27,150
			12/31		50	SF	10/1	41,150
							11/1	59,850
							12/10	58,570
	$126,160				$67,440		12/31	$58,720

Description DEP Customer deposit INT Interest earned SF Service fees CHK Customer check DC Debit card

After comparing the two balances, Suzie has some concern because the banks balance of $58,720 is substantially less than the companys balance of $80,520.

Required:

2-a. Prepare Great Adventures bank reconciliation for the six-month period ended December 31, 2024. 2-b. Record any necessary entries to adjust cash.