Crane Ltd. had a balance in its cash account of $31,000 on December 31, 2024. This included $3,000 of cash receipts from December 31, which had not yet been deposited in the bank. On the same date, its bank account had a balance of $36,123. Comparing the bank statement with the company's records indicated that the following cheques were outstanding on December 31: #224 #230 #232 Total $2,200 2,000 2,500 The following items were shown on the bank statement and not yet recorded by the company: $6,700 $370 deducted for a customer's cheque that was returned to Crane marked NSF. $520 added as a result of the direct deposit of a tax refund from the Canada Revenue Agency.

Crane Ltd. had a balance in its cash account of $31,000 on December 31,2024 . This included $3,000 of cash receipts from December 31 , which had not yet been deposited in the bank. On the same date, its bank account had a balance of $36,123. Comparing the bank statement with the company's records indicated that the following cheques were outstanding on December 31 : The following items were shown on the bank statement and not yet recorded by the company: The following items were shown on the bank statement and not yet recorded by the company: - $370 deducted for a customer's cheque that was returned to Crane marked NSF. - $520 added as a result of the direct deposit of a tax refund from the Canada Revenue Agency. - $1,850 added as a result of a note collected by the bank and deposited in the compary's account, representing $1,500 of principal and $350 of interest. No interest has been accrued to date. - $47 deducted for service charges for the month. In the process of preparing the data for its bank reconciliation, the company discovered that it had made an error in recording one of its deposits for cash sales during the month. The actual amount deposited was $2,382, but Crane had recorded it as $2,782. The bank had also made an error in recording one of the company's cheques that was a payment to a supplier on account. The cheque had been issued in the amount of $250, but the bank processed it as $380