On October $31,2024,$ Gibson Company's general ledger shows a cash account balance of $$8,448.$ The company's cash receipts for the month total $$74,660,$ of which $$71,380$ has been deposited in the bank. In addition, the company has written checks for $$72,518,$ of which $$71,288$ has been processed by the bank.

The bank statement reveals an ending balance of $$12,968$ and includes the following items not yet recorded by Gibson: bank service fees of $$320,$ note receivable collected by the bank of $$6,700,$ and interest earned on the note of $$1,170.$ After closer inspection, Gibson realizes that the bank incorrectly charged the company's account $$980$ for an automatic withdrawal that should have been charged to another customer's account The bank agrees to the error.

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