The bank portion of the bank reconciliation for Cullumber Company at October 31, 2022, is as follows. Cullumber Company Bank Reconciliation October 31, 2022 Cash balance per bank Add: Deposits in transit $12.167.90 1,330.20 13.498.10 Less: Outstanding checks Check Number 2451 2470 2471 2472 2474 Adjusted cash balance per bank Check Amount $ 1,060.40 484.20 644.50 226.80 1,050.00 3,465.90 $10,032.20 The adjusted cash balance per bank agreed with the adjusted cash balance per books at October 31. All necessary journal entries were made at the end of October. The November bank statement showed the following checks and deposits. Bank Statement trannoite Deposits and Credits Bank Statement Checks and Debits Deposits and Credits Date Number Amount Date Amount 11-1 2470 $ 484.20 11-1 $ 1,330.20 11-2 2471 644.50 11-4 1,111.60 11-5 2474 1,050.00 11-8 890.10 11-4 2475 1.540.70 11-13 2.475.00 11-8 2476 2.730.00 11-18 1.372.70 11-10 2477 600.00 11-19 EFT 2,192.00 11-15 2479 1.550.00 11-21 2,845.00 11-18 2480 1.130.00 11-25 2.467.30 11-27 2481 495.40 11-28 1.550.00 11-28 SC 65.00 11-30 1.086.00 11-30 2483 375.50 Total 17,319.90 11-29 2486 740.00 Total $11,405.30 The cash records per books for November showed the following Cash Payments Amount Date Cash Receipts Date Amount Number Number Date Amount Date Number Number 2475 11-1 11-2 2476 2477 2478 2479 11-2 Cash Payments Amount Date $1,540.70 11-20 2,730.00 11-22 600.00 11-23 488.20 11-24 1,505.00 11-29 1,130.00 11-30 495.40 Total 2483 2484 2485 2486 Amount $375.50 779.50 924.80 740.00 348.00 750.00 $12.969.10 11-4 Cash Receipts Date Amount 11-3 $1,111.60 11-7 890.10 11-12 2,475.00 11-17 1,372.70 11-20 2,854.00 11-24 2.467.30 11-27 1.550.00 1,086.00 11-30 2.104.00 Total $15.910.70 11-8 11-10 2487 2488 2480 11-15 2481 2482 11-18 562.00 11-29 The November bank statement contained two bank memoranda; 1. 2 Acredit of $2,192.00 for the collection for Cullumber Company of an electronic funds transfer. A debit for the printing of additional company checks $65.00 At November 30, the cash balance per books was $12,973.80 and the cash balance per the bank statement was $18,082.50. The bank did not make any errors, but Cullumber Company made two errors. (b) Prepare the adjusting entries based on the reconciliation. (Note: 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.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Aug. 31 I (To record collection of accounts receivable) Aug. 31 (To record charge for printing company checks) Aug. 31 (To correct error in recording check) (To record charge for printing company checks) Aug. 31 (To correct error in recording check) Aug. 31 (To correct error in deposit)
