P8.5 (LO3), AP The bank portion of the bank reconciliation for Langer Company at November 30, 2022, was as follows. Langer Company Bank Reconciliation November 30, 2022 Cash balance per bank $14,367.90 Add: Deposits in transit 2,530.20 16,898.10 Less: Outstanding checks Check Number Check Amount 3451 $2,260.40 3470 720.10 3471 844-50 3472 1,426.80 3474 1,050.00 6,301.80 Adjusted cash balance per bank $10,596.30 The adjusted cash balance per bank agreed with the cash balance per books at November 30. The December bank statement showed the following checks and deposits. Press Esc to exit full screen 12-2 Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $ 2,260.40 12-1 $ 2,530.20 3471 844-50 12-4 1,211.60 12-7 3472 1,426.80 12-8 2,365.10 12-4 3475 1,640.70 12-16 2,672.70 12-8 3476 1,300.00 12-21 2,945.00 12-10 3477 2,130.00 12-26 2,567-30 12-15 3479 3,080.00 12-29 2,836.00 12-27 3480 600.00 12-30 1,025.00 12-30 3482 475-50 Total $18,152.90 12-29 3483 1,140.00 12-31 3485 540.80 Total $15,438.70 The cash records per books for December showed the following. Cash Payments Journal Date Number Amount Date Number Amount 12-1 3475 $1,640.70 12-20 3482 S 475-50 12-2 3476 1,300.00 12-22 3483 1,140.00 12-2 3477 2,130.00 12-23 3484 798.00 12-4 3478 621.30 12-24 3485 450.80 12-8 3479 3,080.00 12-30 3486 12-10 3480 600.00 Total $13,933.20 12-17 3481 807-40 Cash Receipts Journal Date Amount 12-3 $ 1,211.60 12-7 2,365.10 12-15 2,672.70 12-20 2,954.00 12-25 2,567-30 12-28 2,836.00 12-30 1,025.00 12-31 1,690.40 Total $17,322.10 889-50 The bank statement contained two memoranda: 1. A credit of $2,242 for the collection of Langer Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $85. At December 31, the cash balance per books was $13,985-20, and the cash balance per the bank statement was $19,239.10. The bank did not make any errors, but Langer Company made two errors. Instructions a. Prepare a bank reconciliation at December 31, 2022. a. Adjusted balance per books $16,043-20 b. Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.)