On October 31, 2024, Gibson Company's general ledger shows a cash account balance of $8,439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Gibson: bank service fees of $290, note receivable collected by the bank of $6,400, and interest earned on the note of $1,020. After closer inspection, Gibson realizes that the bank incorrectly charged the company's account $860 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare 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. 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 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per bank statement Bank balance per reconciliation Bank Reconciliation October 31, 2024 Company's Cash Balance Per general ledger Company balance per reconciliation Required 1 Required 2 >

Required: 1. Prepare a bank reconclliation to calculate the correct ending balance of cash on October 31, 2024. 2. Record the necessary entries to adjust the balance for cash. Complete this question by entering your answers in the tabs below. Record the necessary entries to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Journal entry worksheet Note: Enter gebits perore ceats On October 31, 2024, Gibson Company's general ledger shows a cash account balance of \$8,439. The company's cash receipts for the month total $74,600, of which $71,365 has been deposited in the bank. In addition, the company has written checks for $72,509, of which $71,234 has been processed by the bank. The bank statement reveals an ending balance of $12,749 and includes the following items not yet recorded by Gbson; bank service fees of $290, note recelvable collected by the bank of $6,400, and interest earned on the note of $1,020. After closer inspection, Gibson realizes that the bank incorrectly charged the compary's account $860 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error. Required: 1. Prepare J 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. Complete this question by entering your answers in the tabs below. Prepare a bank reconcliation to calculate the correct ending balance of cash on October 31, 2024. (Amounts to be deducted should be indicated with a minus sign.) Complete this question by entering your answers in the tabs below. Record the necessary entries to adjust the balance for cash. (If no entry is required for a transaction/event, select "No Journa Required" in the first account field.) Journal entry workshect Note: Enter debits before credits