do part a and b on columnar paper

P7.10A (LO 4) AP The bank portion of the bank reconciliation for Maloney Company at October 31, 2021, was as follows: MALONEY COMPANY Bank Reconciliation October 31, 2021 Cash balance per bank Add: Deposits in transit $11,545 1,530 13,075 Less: Outstanding cheques #2451 #2470 #2471 #2472 #2474 Adjusted cash balance per bank $1,260 920 845 504 1,050 4,579 $ 8,496 The adjusted cash balance per bnk agreed with the cash balance per books at October 31. The November bank statement showed the following: The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following: MALONEY COMPANY Bank Statement November 30, 2021 Cheques and Other Debits Date Number Amount Deposits Amount $1,530 Oct. 31 Nov. 3 4 5 6 7 10 1,212 2470 2471 2475 2474 2476 2477 $ 920 845 1,641 1,050 2,830 600 990 13 2,575 2479 2480 1,750 1,330 14 18 21 25 $11,545 12,155 11,310 10,881 9,831 7,991 7,391 9,966 8,216 8,359 11,325 13,632 12,937 14,587 16,166 16,777 14,527 I 1,473 2,966 2,567 tel:18%202480%201,330 NSF 2481 695 26 27 28 28 30 2486 2483 LN 900 575 2,250 1,650 EFT 2,479 1,186 Additional information from the bank statement: 1. The EFT of $2,479 is an electronic transfer from a customer in payment of its account. The amount includes $49 of interest that Maloney Company had not previously accrued. 2. The NSF for $260 is a $245 cheque from a customer, Pendray Holdings, in payment of its ac- count, plus a $15 processing fee. The company's policy is to pass on all NSF service charges to the customer. 3. The LN is a payment of a note payable with the bank and consists of $250 interest and $2,000 principal 4. At October 31, the cash balance per books was $10,160. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Maloney Company. 7-48 CHAPTER 7 Internal Control and Cash Cash Payments Date Number Amount Date Number Amount Nov. 3 3 2475 2476 2477 2478 4 I $1,641 2,380 600 538 1,750 1,330 695 6 2482 2483 2484 2485 2486 2487 Nov. 18 20 21 24 26 28 Total $ 612 575 830 975 900 1,200 $14,026 Cash Receipts Date Amount Nov. 3 $ 1,212 7 990 2,575 1,473 2,699 2,567 1,650 1,186 1,338 Total $15,690 8 2479 O 10 14 2480 2481 =#* Instructions a. Prepare a bank reconciliation at November 30. b. Prepare the necessary adjusting entries at November 30. (Note: The correction of any errors in the recording of cheques should be made to Accounts Payable except for item 3, which should be made to Notes Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable)