On October 31, 2024, Crowe Companys general ledger shows a cash account balance of $8,418. The companys cash receipts for the month total $74,460, of which $71,330 has been deposited in the bank. In addition, the company has written checks for $72,488, of which $71,108 has been processed by the bank.

The bank statement reveals an ending balance of $12,238 and includes the following items not yet recorded by Crowe: bank service fees of $220, note receivable collected by the bank of $5,700, and interest earned on the note of $670. After closer inspection, Crowe realizes that the bank incorrectly charged the companys account $580 for an automatic withdrawal that should have been charged to another customers account. The bank agrees to the error.

Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024. 2. Record the necessary entries to adjust the balance for cash.

What is wrong in this??

Complete this question by entering your answers in the tabs below. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) View transaction list View joumal entry worksheet \begin{tabular}{|c|c|c|c|c|} \hline No & \multicolumn{1}{|c|}{ Date } & General Journal & Debit & Credit \\ \hline 1 & October 31, 2024 & Cash & 6,370 & \\ \hline & & Interest Revenue & 670 \\ \hline & & Notes Receivable & & 5,700 \\ \hline & & & & \\ \hline \end{tabular} Required 1