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On October 31, 2024, the bank statement for the cash account of Northstar Video shows a balance of $12.630, while the company's records show a

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On October 31, 2024, the bank statement for the cash account of Northstar Video shows a balance of $12.630, while the company's records show a cash balance of $12,331. Information that might be useful in preparing a bank reconcillation is as follows: a. Outstanding checks are $1,230. b. The October 31 cash receipts of $785 are not deposited in the bank until November 2. c. The EFT payment for utilities of $137 is correctly recorded by the bank but is recorded by Northstar as a disbursement of $173. d. In accordance with prior authorization, the bank withdraws $650 directly from the account as payment on a note payable. The interest portion of that payment is $50 and the principal portion is $600. Northstar has not recorded the direct withdrawal. e. Bank service fees of $24 are llsted on the bank statement. f. A deposit of $567 is recorded by the bank on October 13 , but it did not belong to Northstar. The deposit shouid have been made to the account of Hollybuster Video, a separate company. g. The bank statement includes a charge of $75 for an NSF check from a customec. The check is returned with the bank statement, and the company will seek payment from the customer. Required: 1. Prepare a bank reconcillation for the Northstar checking account on October 31, 2024. 2. Record the necessary cash adjustments

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