The bank portion of the bank reconciliation for Crane Company at November 30, 2020, was as follows. Crane COMPANY Bank Reconciliation November 30, 2020 Cash balance per bank $14,467.90 Add: Deposits in transit 2,530.20 16,998.10 Less: Outstanding checks Check Number Check Amount 3451 $ 2,260.40 3470 720.10 3471 844.50 34721,426.80 1,051.00 6,302.80 3474 Adjusted cash balance per $10,695.30 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. The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Amount 844.50 12-4 1,211.60 12-1 3451 Number $2,260.40 3472 12-7 12-4 3475 Amount Date 12-1 $ 2,530.20 12-2 3471 1,426.80 12-8 1,640.70 12-16 1,300 12-21 2,130 12-26 3,080 12-29 2,365.10 2,672.70 2,945 12-8 3476 12-10 3477 2,567.30 2,836 12-15 3479 12-27 3480 600 12-30 1,025 12-30 3482 475.50 Total $18,152.90 12-29 3483 1,140 12-31 3485 520.80 Total $15,418.70 The cash records per books for December showed the following. Date 12-1 Number 3475 3476 12-2 3483 Cash Payments Journal Amount Date Number $1,640.70 12-20 3482 1,300 12-22 2,130 12-23 3484 621.30 12-24 3485 3,080 12-30 3486 600 Total Amount $475.50 1,140 797.00 250.80 889.50 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 3478 12-4 12-8 3479 12-10 3480 $13,732.20 12-28 2,836 12-17 3481 807.40 12-30 12-31 1,025 1,690.40 $17,322.10 Total The bank statement contained two memoranda: 1. A credit of $2,240 for the collection of Langer Company of an electronic funds transfer. 2. A debit for the printing of additional company checks $86.00. At December 31, the cash balance per books was $14,285.20, and the cash balance per the bank statement was $19,356.10. The bank did not make any errors, but Langer Company made two errors. 4886.30 16160.20 Adjusted cash balance per bank Cash balance per books 14285.20 Add Electronic funds transfer received 2240 16525.20 Less Check printing fee 86.00 Error in recording check Error in deposit 8 Adjusted cash balance per books No. Account Titles and Explanation Debit Credit Dec. 31 cash X accounts receivable (To record collection of note receivable by bank) X Dec. 31 cash X accounts payable (To record bank service charge) OD OD ID IO Dec. 31 accounts recievable bij Od id cash (To correct error in recording check) Dec. 31 bank charge expense cash (To correct error in deposit)
