Murdstone, Inc. Bank Reconciliation January 31, 2015 Cash balance according to bank statement Adjustments: Add: Deposit in transit on January 31 $23,557.98 12,125.25 Deduct: Outstanding Check No. 124 $(62.00) Outstanding Check No. 125 (57.00) Outstanding Check No. 129 (1,250.00) Total deductions (1,369.00) Adjusted balance $34,314.23 < Cash balance according to Murdstone, Inc. $51,545.88 Adjustments: Add: Note and interest collected by bank Deduct: Check returned because of insufficient funds $(23,475.40) Bank service charge Error in recording Check No. 123 Total deductions Adjusted balance 15,250.75 (250.00) (9,000.00) (32,725.40) $34,071.23 You assist the intern to check source documents, and find that most of the dollar amounts are correct; however, two dollar amoun incorrect. After reviewing the following table, scroll down for the next steps in helping the intern. Item Cash balance according to bank statement Correct in Intern's Reconciliation? If "No," Corrected Amount Yes Deposit in transit on January 31 Yes Outstanding Check No. 124 Yes Outstanding Check No. 125 No $75.00 Outstanding Check No. 129 Yes Cash balance according to Murdstone, Inc. Yes Check returned because of insufficient funds Yes Note and interest collected by bank Yes Bank service charge No $25.00 Murdstone error in recording Check No. 123 as Yes $12,435.00 rather than the correct amount of $21,435.00 After asking the intern to search for other errors by comparing her reconciliation to prior bank reconciliations prepared by the former accountant, you work together to compute the corrected adjusted balance. Round your answer to two decimal places. Corrected adjusted balance amount: