es Exercise 4-11 (Algo) Calculate the balance of cash using a bank reconciliation (LO4-5) On October 31, 2024, Gibson Company's general ledger shows a cash account balance of $8,403. The company's cash receipts for the month total $74,360, of which $71,305 has been deposited in the bank. In addition, the company has written checks for $72,473, of which $71,018 has been processed by the bank. The bank statement reveals an ending balance of $11,873 and includes the following items not yet recorded by Gibson: bank service fees of $170, note receivable collected by the bank of $5,200, and interest earned on the note of $420. After closer inspection, Gibson realizes that the bank incorrectly charged the company's account $380 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024. 2. Record the necessary entries to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation GIBSON COMPANY Bank Reconciliation October 31, 2024 Per general ledger Company's Cash Balance Company balance per reconciliation Required 1 Required 2 >

Exercise 4-11 (Algo) Calculate the balance of cash using a bank reconcillation (LO4-5) On October 31, 2024, Gibson Company's general ledger shows a cash account balance of $8.403. The company's cash receipts for the month total $74,360, of which $71,305 has been deposited in the bank. In addition, the company has written checks for $72,473, of which $71,018 has been processed by the bank. The bank statement reveals an ending balance of $11,873 and includes the following items not yet recorded by Gibson: bank service fees of $170, note receivable collected by the bank of $5,200, and interest earned on the note of $420. After closer inspection, Gibson realizes that the bank incorrectly charged the company's account $380 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31,2024. 2. Record the necessary entries to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Prepare a bank reconciliation to calculate the correct ending bolance of cash on October 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Complete this question by entering your answers In the tabs below. Record the necessary entries to adjust the bolonce for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)