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 $$30,0007/1101$ Insurance $$5,040$

$7/15$ Clinic receipts $1,8007/2102$ Legal fees $1,600$

$7/22$ Clinic receipts $2,7607/7$ DC Advertising $320$

$7/30$ Clinic receipts $3,6007/8103$ Bikes $12,200$

$8/1$ Borrowing $32,0007/24$ DC Advertising $720$

$8/10$ Clinic receipts $5,1008/4104$ Kayaks $30,800$

$8/17$ Clinic receipts $11,9008/24$ DC Office supplies $1,820$

$9/21$ Clinic receipts $13,4009/1105$ Rent $2,640$

$10/17$ Clinic receipts $18,10012/8106$ Race permit $1,220$

$12/15$ Race receipts $30,00012/16107$ Salary $2,000$

$12/31108$ Dividend $3,000$

$12/31109$ Dividend $3,000$

$$148,660$ $$64,360$

Summary of Transactions

Beginning Cash Balance July $1,2024+$ Cash Receipts $$ Cash Disbursements $=$ Ending Cash Balance December $31,2024$

$$0$ $$148,660$ $$64,360$ $$84,300$

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

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

$$08$ $$118,96011$ $$56,460$ $$62,500$

Account Details

Deposits and Credits Withdrawals and Debits Daily Balance

Date Amount Description Date Number Amount Description Date Amount

$7/1$ $$30,000$ DEP $7/1101$ $$5,040$ CHK $7/1$ $$24,960$

$8/18,160$ DEP $7/71021,600$ CHK $7/723,040$

$8/132,000$ DEP $7/7320$ DC $7/1410,840$

$9/117,000$ DEP $7/1410312,200$ CHK $7/2410,120$

$9/30100$ INT $7/24720$ DC $8/150,280$

$10/113,400$ DEP $8/910430,800$ CHK $8/919,480$

$11/118,100$ DEP $8/241,820$ DC $8/2417,660$

$12/31200$ INT $9/21052,640$ CHK $9/134,660$

$9/3050$ SF $9/232,020$

$12/101061,220$ CHK $9/3032,070$

$12/3150$ SF $10/145,470$

$11/163,570$

$12/1062,350$

$$118,960$ $$56,46012/31$ $$62,500$

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 bank$$s balance of $$62,500$ is substantially less than the company$$s balance of $$84,300.$

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.