On October $31,2024,$ Gibson Company's general ledger shows a cash account balance of $$8,457.$ The company's cash receipts for the month total $$74,720,$ of which $$71,395$ has been deposited in the bank. In addition, the company has written checks for $$72,527,$ of which $$71,342$ has been processed by the bank.

The bank statement reveals an ending balance of $$13,187$ and includes the following items not yet recorded by Gibson: bank service fees of $$350,$ note receivable collected by the bank of $$7,000,$ and interest earned on the note of $$1,320.$ After closer inspection, Gibson realizes that the bank incorrectly charged the company's account $$1,100$ for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error.

Required:

Prepare a bank reconciliation to calculate the correct ending balance of cash on October $31,2024.$

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 $3$ should be indicated with a minus sign.$)$

$\backslash$table$[[,$GIBSON COMPANY$],[,$Bank Reconciliation$],[$October $31,2024],[$Bank$\text{'}$s Cash Balance,$13,$Company's Cash Balan$],[$Per bank statement,,Per general ledger$],[,,],[,,],[0,,],[,x^2=,],[$Bank balance per reconciliation,,Company balance per reconciliation$]]$