Problem 8-05A a-b (Video) The bank portion of the bank reconciliation for Lily Company at November 30, 2020, was as follows. Lily COMPANY Bank Reconciliation November 30, 2020 Cash balance per bank $14,607.90 2,530.20 Add: Deposits in transit 17,138.10 Less: Outstanding checks Check Number Check Amount $ 2,260.40 3451 3470 720.10 3471 844.50 3472 1,426.80 1,056.50 3474 6,308.30 Adjusted cash balance per bank $10,829.80 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 Date Number Amount Date 12-1 3451 12-1 12-2 3471 12-4 12-7 3472 12-8 Deposits Amount $ 2,530.20 1,211.60 2,365.10 2,672.70 2,945 2,567.30 2,836 1,025 12-4 $2,260.40 844.50 1,426.80 1,640.70 1,300 2,130 3,080 3475 12-16 12-8 3476 12-21 12-10 3477 12-26 12-15 3479 12-29 12-27 3480 600 12-30 12-30 3482 475.50 Total $18,152.90 12-29 3483 1,140 12-31 3485 540.80 Total $15,438.70 The cash records per books for December showed the following. The cash records per books for December showed the following. Date Number Amount 12-1 3475 Cash Payments Journal Amount Date Number $1,640.70 12-20 3482 1,300 12-22 3483 2,130 12-23 3484 $475.50 1,140 12-2 3476 Cash Receipts Journal Date Amount 12-3 $ 1,211.60 12-7 2,365.10 12-15 2,672.70 12-20 2,954 12-25 2,567.30 12-2 3477 791.50 12-4 3478 621.30 12-24 3485 450.80 12-8 3479 3,080 12-30 3486 889.50 12-10 3480 600 Total $13,926.70 12-28 12-17 3481 807.40 12-30 2,836 1,025 1,690.40 12-31 Total $17,322.10 The bank statement contained two memoranda: 1. A credit of $2,260 for the collection of Langer Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $91.50. At December 31, the cash balance per books was $14,225.20, and the cash balance per the bank statement was $19,490.60. The bank did not make any errors, but Langer Company made two errors. Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31. (Round answers to 2 decimal places, e.g. 52.75. List items that increase cash balance first. Reconcile cash balance per bank first.) LILY COMPANY Bank Reconciliation December 31, 2020 Cash balance per bank statement v 19490.60 $ Add v : Deposits in transit 1690.40 21181.00 Less v . Outstanding checks No. 3470 v 720.1 No. 3474 v 1056.5 No. 3478 v 621.3 No. 3481 v 807.4 No. 3484 v 791.5 No. 3486 v 889.5 No. 3484 v 791.5 No. 3486 v 889.5