The bank portion of the bank reconciliation for Maloney Company at October 31, 2021, was as follows:

Prepare bank reconciliation and related entries.

MALONEY COMPANY Bank Reconciliation October 31, 2021 Cash balance per bank $11,545 Add: Deposits in transit 1,530 13,075 Less: Outstanding cheques #2451 $1,260 #2470 920 #2471 845 #2472 504 #2474 1,050 4,579 Adjusted cash balance per bank $ 8,496 The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following:

MALONEY COMPANY Bank Statement November 30, 2021 Cheques and Other Debits Date Number Amount Deposits Amount Oct. 31 $11,545 Nov. 3 2470 $ 920 $1,530 12,155 4 2471 845 11,310 5 2475 1,641 1,212 10,881 6 2474 1,050 9,831 7 2476 2,830 990 7,991 10 2477 600 7,391 13 2,575 9,966 14 2479 1,750 8,216 18 2480 1,330 1,473 8,359 21 2,966 11,325 25 NSF 260 2,567 13,632 26 2481 695 12,937 27 1,650 14,587 28 2486 900 EFT 2,479 16,166 28 2483 575 1,186 16,777 30 LN 2,250 14,527 Additional information from the bank statement:

The EFT of $2,479 is an electronic transfer from a customer in payment of its account. The amount includes $49 of interest that Maloney Company had not previously accrued. The NSF for $260 is a $245 cheque from a customer, Pendray Holdings, in payment of its account, plus a $15 processing fee. The company's policy is to pass on all NSF service charges to the customer. The LN is a payment of a note payable with the bank and consists of $250 interest and $2,000 principal. At October 31, the cash balance per books was $10,160. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Maloney Company.

Cash Payments Cash Receipts Date Number Amount Date Number Amount Date Amount Nov. 3 2475 $1,641 Nov. 18 2482 $ 612 Nov. 3 $ 1,212 3 2476 2,380 20 2483 575 7 990 4 2477 600 21 2484 830 12 2,575 6 2478 538 24 2485 975 17 1,473 8 2479 1,750 26 2486 900 20 2,699 10 2480 1,330 28 2487 1,200 24 2,567 14 2481 695 Total $14,026 27 1,650 28 1,186 30 1,338

Total $15,690 Instructions a. Prepare a bank reconciliation at November 30.

b. Prepare the necessary adjusting entries at November 3

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JULI 4) AP The bank portion of the bank reconciliation for Maloney Company at October 31, pank reconciliation and related entries. MALONEY COMPANY Bank Reconciliation October 31, 2021 Cash balance per bank Add: Deposits in transit $11,545 1,530 13,075 Less: Outstanding cheques #2451 #2470 #2471 #2472 #2474 Adjusted cash balance per bank $1,260 920 845 504 1,050 4,579 $ 8,496 ash balance per bank agreed with the cash balance per books at October 31. The Nov ed the following: 6 Aa 3. The LN is a payment of a note payable with the bank and consists of $250 interest and $2,000 principal. 4. At October 31, the cash balance per books was $10,160. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Maloney Company. Cash Payments Cash Receipts Date Number Amount Date Number Amount Date Amount Nov. 3 2475 $1,641 Nov. 18 2482 $ 612 Nov. 3 $ 1,212 3 2476 2,380 20 2483 575 7 990 2477 600 21 2484 830 12 2,575 6 2478 538 24 2485 975 17 1,473 8 2479 1,750 26 2486 900 20 2,699 10 2480 1,330 28 2487 1,200 24 2,567 14 2481 695 Total $14,026 27 1,650 28 1,186 30 1,338 Total $15,690 Instructions a. Prepare a bank reconciliation at November 30. b. Prepare the necessary adjusting entries at November 30. (Note: The correction of any errors in the recording of cheques should be made to Accounts Payable except for item 3, which should be made to Notes 1:10 AM TOR: JOHL Bank Statement November 30, 2021 Cheques and Other Debits Number Amount Deposits Date Amount Oct. 31 Nov. 3 $ 920 $1,530 4 5 1,212 2470 2471 2475 2474 2476 2477 6 845 1,641 1,050 2,830 600 7 990 10 13 2,575 14 1,750 2479 2480 $11,545 12,155 11,310 10,881 9,831 7,991 7,391 9,966 8,216 8,359 11,325 13,632 12,937 14,587 16,166 16,777 14,527 18 1,330 21 1,473 2,966 2,567 NSF 25 26 260 695 2481 27 28 1,650 EFT 2,479 28 2486 2483 LN 900 575 2,250 1,186 30 Tinformation from the bank statement