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The bank portion of the bank reconciliation for Oriole Company at October 31,2024 , was as follows: Prepare the necessary journal entries at November 30.
The bank portion of the bank reconciliation for Oriole Company at October 31,2024 , was as follows: Prepare the necessary journal 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 Payable. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Additional information from the bank statement: 1. The EFT of $2,490 is an electronic transfer from a customer in payment of its account. The amount includes $60 of interest that Oriole Company had not previously accrued. 2. The NSF for $260 is a $245 cheque from a customer, Whispering Winds 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. 3. The LN is a payment of a note payable with the bank and consists of $250 interest and $2,000 principal. 4. At November 30, the cash balance per books was $10,631. The bank did not make any errors. The cash records per books for November follow. Two errors were made by Oriole Company. The adjusted cash balance per bank agreed with the cash balance per books at October 31 . The November bank statement showed the following: \begin{tabular}{cr} \multicolumn{2}{c}{ Cash Receipts } \\ \hline Date & Amount \\ Nov.3 & $1,158 \\ 12 & 990 \\ 17 & 1,529 \\ 20 & 2,699 \\ 24 & 2,567 \\ 27 & 1,650 \\ 28 & 1,186 \\ 30 & 1,304 \\ \cline { 2 - 2 } Total & $15,658 \\ \hline \end{tabular}
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