Need answers to requirement continued.

Already have requirements A and B solutions shown below and questions.

Correction

The total debts on the adjusted trial balance $482,020

Total liabilities on balance sheet is $88,270

Smith Company Bank Reconciliation December 31, 2017 s Books Bank Statement Cash balance according to company's records Add: Wrong insurance check entry 1$571.00-$17.00 $17,920.00 $54.00 Cash balance according to bank statement Add: Deposits in transit, not recorded by bank 19,867.00 $375.00 $20,242.00 Less: Bank Service Charges for the month Less: Loan installment paid, not recorded in books Less: NSF Check not recorded Adjusted balance $950.00 5725.00 $16,257.00 Less: Error by bank in recoding other customer deposit Less: Outstanding Checks Adjusted balance $860.00 53,125.00 16,257.00 NOTE Event al Journal Debit Credit Insurance Expense k Service Charges record bank Adjusting entries in company's books are required to be recorded only for those transactions which would affect company records In other words, transactions which would affect bank records shall not be recorded in books, So outstanding checks and deposits in transit are not recorded in adjusting entries $54.00 t check 42.00 s debited by bank k Loan ($950.00-$272.00 678.00 $272.00 $950.00 record loon instolment with interest 725.0 75.00 d) s Receivable Cash To record NSF check returned by bank)