On October 31, 2021, Damon Companys general ledger shows a checking account balance of $8,397. The companys cash receipts for the month total $74,320, of which $71,295 has been deposited in the bank. In addition, the company has written checks for $72,467, of which $70,982 has been processed by the bank. The bank statement reveals an ending balance of $11,727 and includes the following items not yet recorded by Damon: bank service fees of $150, note receivable collected by the bank of $5,000, and interest earned on the account balance plus from the note of $320. After closer inspection, Damon realizes that the bank incorrectly charged the companys account $300 for an automatic withdrawal that should have been charged to another customers account. The bank agrees to the error.