On October 31, 2024, the bank statement for the cash account of Cousins Video shows a balance of $12,742, while the companys records show a cash balance of $12,336. Information that might be useful in preparing a bank reconciliation is as follows:

Outstanding checks are $1,235.

The October 31 cash receipts of $790 are not deposited in the bank until November 2.

The EFT payment for utilities of $138 is correctly recorded by the bank but is recorded by Cousins as a disbursement of $183.

In accordance with prior authorization, the bank withdraws $551 directly from the account as payment on a note payable. The interest portion of that payment is $51 and the principal portion is $500. Cousins has not recorded the direct withdrawal.

Bank service fees of $25 are listed on the bank statement.

A deposit of $568 is recorded by the bank on October 13, but it did not belong to Cousins. The deposit should have been made to the account of Hollybuster Video, a separate company.

The bank statement includes a charge of $76 for an NSF check from a customer. The check is returned with the bank statement, and the company will seek payment from the customer.

Required:

1. Prepare a bank reconciliation for the Cousins checking account on October 31, 2024.

2. Record the necessary cash adjustments.