Problem 8-05A a-b (Video) The bank portion of the bank reconciliation for Waterway Company at November 30, 2020, was as follows Waterway COMPANY Bank Reconciliation November 30, 2020 $14,497.90 2,530.20 17,028.10 Cash balance per bank Add: Deposits in transit Less: Outstanding checks Check Number 3451 3470 3471 3472 3474 Check Amount $2,260.40 720.10 844.50 1,426.80 1,051.60 6,303.40 Adjusted cash balance per $10,724.70 bank 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 Bank Statement Checks Deposits Date 12-1 12-2 12-7 12-4 12-8 12-10 12-15 12-27 12-30 12-29 12-31 Number 3451 3471 3472 3475 3476 3477 3479 3480 3482 3483 3485 Date 12-1 12-4 12-8 12-16 12-21 12-26 12-29 12-30 Total Amount Amount $2,260.40 844.50 1,426.80 1,640.70 1,300 2,130 3,080 600 475.50 1,140 530.80 $15,428.70 $2,530.20 1,211.60 2,365.10 2,672.70 2,945 2,567.30 2,836 1,025 $18,152.90 Total The cash records per books for December showed the following The cash records per books for December showed the following Cash Payments Journal Cash Receipts Journal Date Number 12-1 12-2 12-2 12-4 12-8 12-10 12-17 Date 12-3 12-7 12-15 12-20 12-25 12-28 12-30 12-31 Total Amount Date Number Amount Amount $475.50 1,140 796.40 350.80 889.50 $13,831.60 $1,640.70 12-20 3475 3476 3477 3478 3479 3480 3481 1,300 12-22 2,130 12-23 621.30 12-24 3,080 12-30 600 Total 3482 3483 3484 3485 3486 $1,211.60 2,365.10 2,672.70 2,954 2,567.30 2,836 1,025 1,690.40 $17,322.10 807.40 The bank statement contained two memoranda 1. A credit of $2,480 for the collection of Langer Company of an electronic funds transfer 2. A debit for the printing of additional company checks $86.60 At December 31, the cash balance per books was $14,215.20, and the cash balance per the bank statement was $19,615.50. The bank did not make any errors, but Langer Company made two errors No. 3486 # 889.50 4,886.30 djusted cash balance per bank 16,419.60 ash balance per books 14,215.20 Add Electronic funds transfer received 2,480.00 16,695.20 ess a Check printing fee 86.60 Error in recording check 270.00 9.00 Error in deposit 858.30 1,8711.90 Adjusted cash balance per books Prepare the adjusting entries based on the reconciliation. (Credit account titles are automatically indented when amount is entered. Do not indent manually Round answers to 2 decimal places, e.g. 52.75) No. Account Titles and Explanation Dec. 31 Cash Debit Credit 2,480.00 Notes Receivable 2,480.00 To record collection of note receivable by bank) Dec. 31 Bank Charge Expense 86.60 Cash 86.60 (To record bank service charge) Dec. 31 Accounts Payable 270 Cash 270 (To correct error in recording check) Dec. 31 Accounts Receivable Cash (To correct error in deposit)
