Crane 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. The balance per the bank statement on October 31,2022 , was $18,500. Outstanding checks were No. 62 for $140.00, No. 183 for $180.00, No. 284 for $250.25, No. 862 for $190.00, No. 863 for $230.00, and No. 864 for $165.00. Included with the statement was a credit memorandum of $255.00 indicating the collection of a note receivable for Crane Company by the bank on October 25 . This memorandum has not been recorded by Crane. The company's ledger showed one Cash account with a balance of $21,870.00. 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 $3,700.00. He then prepared the following bank reconciliation in an effort to conceal his theft of cash. (a) Prepare a correct bank reconciliation. (Hint: Deduct the amount of the theft from the adjusted balance per books.) (Round onswers to 2 Crane 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. The balance per the bank statement on October 31,2022 , was $18,500. Outstanding checks were No. 62 for $140.00, No. 183 for $180.00, No. 284 for $250.25, No. 862 for $190.00, No. 863 for $230.00, and No. 864 for $165.00. Included with the statement was a credit memorandum of $255.00 indicating the collection of a note receivable for Crane Company by the bank on October 25 . This memorandum has not been recorded by Crane. The company's ledger showed one Cash account with a balance of $21,870.00. 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 $3,700.00. He then prepared the following bank reconciliation in an effort to conceal his theft of cash. (a) Prepare a correct bank reconciliation. (Hint: Deduct the amount of the theft from the adjusted balance per books.) (Round onswers to 2