he bank portion of the bank reconciliation for Rintala Company at November 30, 2014, was as follows. Rintala Company Bank Reconciliation November 30, 2014 Cash balance per bank $14,610.69 Add: Deposits in transit 2,530.20 Less: Outstanding checks 17,140.89 Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 3472 1,426.80 3474 1,055.07 6,306.87 Adjusted cash balance per bank $10,834.02 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $2,260.40 12-1 $ 2,530.20 12-2 3471 844.50 12-4 1,211.60 12-7 3472 1,426.80 12-8 2,365.10 12-4 3475 1,640.70 12-16 2,672.70 12-8 3476 1,300.00 12-21 2,945.00 12-10 3477 2,130.00 12-26 2,567.30 12-15 3479 3,080.00 12-29 2,836.00 12-27 3480 600.00 12-30 1,025.00 12-30 3482 475.50 Total 18,152.90 12-29 3483 1,140.00 12-31 3485 530.80 Total $15,428.70 The cash records per books for December showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 12-1 3475 $1,640.70 12-20 3482 $475.50 12-3 $ 1,211.60 12-2 3476 1,300.00 12-22 3483 1,140.00 12-7 2,365.10 12-2 3477 2,130.00 12-23 3484 792.93 12-15 2,672.70 12-4 3478 621.30 12-24 3485 350.80 12-20 2,954.00 12-8 3479 3,080.00 12-30 3486 1,889.50 12-25 2,567.30 12-10 3480 600.00 Total $14,828.13 12-28 2,836.00 12-17 3481 807.40 12-30 1,025.00 12-31 1,190.40 Total $16,822.10 The bank statement contained two memoranda: 1. A credit of $3,819.70 for the collection of a $3,674.70 note for Rintala Company plus interest of $160.00 and less a collection fee of $15.00. Rintala Company has not accrued any interest on the note. 2. A debit of $577.87 for an NSF check written by D. Chagnon, a customer. At December 31, the check had not been redeposited in the bank. At December 31, the cash balance per books was $12,827.99, and the cash balance per the bank statement was $20,576.72. The bank did not make any errors, but two errors were made by Rintala Company. (a) Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Reconcile the bank balance first and then the book balance.) RINTALA COMPANY Bank Reconciliation December 31, 2014 $ Add: Less: $ $ $ Add: Less: $ $ (b) Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date. Account Titles and Explanation Debit Credit Dec 31. (To record collection of note receivable by bank) (To record NSF Check) (To correct error in recording check) (To correct error in deposit)