Question 17 of 17 View Policies Current Attempt in Progress On October 31, Cullumber Mainframe Ltd. (CML) received its bank statement from Provincial Bank. It stated that CML had a balance of $8,870 at October 31. The company's general ledger showed a cash balance of $9,370 at that date. A comparison of the bank statement and the accounting records revealed the following information: Bank service charges for the month were $40. The company had written and mailed out cheques with a value of $1,500 that had not yet cleared the bank. A cheque from one of CML's customers in the amount of $780 that had been deposited during the last week of October was returned with the bank statement as NSF. -/16 : An electronic funds transfer payment (EFT) of $230 for monthly insurance expense was automatically deducted from CML's bank account on October 22. CML's bookkeeper had forgotten to record this transaction. During the month, the company's bookkeeper had recorded a cheque (#1872) paid for utilities as $575 rather than $755 (which was the amount written on the cheque and processed by the ank). The cash receipts for October 31 amounted to $770 and had been deposited in the night drop slot at the bank on the evening of October 31. These were not reflected on the bank statement for October. Prepare the bank reconciliation for CML at October 31. Cullumber Mainframe Ltd. (CML) Bank Reconciliation $

On October 31. Cullumber Mainframe Ltd. (CML) received its bankstatement from Provincial Bank. It stated that CML had a balance of $8,870 at October 31 . The company's general ledger showed a cash balance of $9,370 at that date. A comparison of the bark statement and the accounting records revealed the following information: Bankservice charges for the month were $40. - The company had written and mailed out chequer with a value of $1,500 that had not yet cleared the bank. - A cheque from one of CML's customers in the amount of $780 that had been deposited during thelast week of October was returned with the bank statement as NSF - An electronic funds transfer payment (EFT) of $230 for monthly insurance expense was automatically deducted from CML's bank account on October 22. CML's booldeeper had forgotten to record this transaction. During the month the company's bookkeeper had recorded a cheque (-1872) paid for utilities as $575 rather than $755 (which was the amount written on the cheque and processed by the fanki) - The cashreceipts for October 31 amounted to $770 and had been deposited in the night drop slot at the bank on the evening of October 31. These were not reflected on the bank statement for October. Prepare the bankreconcillation for CML at October 31 What cash should CML report on its balance sheet as at October 31 ? The cash reported on the balance sheet at October 31 Prepare the journal entries necessary as a result of the bank reconciliation. (Credit occount tides are outomatically indenthd whan the amount is entered. Do not indent manuolly. If no entry is requined select "No Entry" for the acenunt bibes and enter ofor the onounts List alidebit entries before credit entries