The bank portion of the bank reconciliation for Pharoah Company at October 31, 2021, was as follows PHAROAH COMPANY Bank Reconciliation October 31, 2021 Cash balance per bank $11,769 Add Deposits in transit 1,540 13,309 Less Outstanding cheques 2451 $1,400 2470 920 2471 845 2472 522 2474 1,060 4,747 Adjusted cash balance per bank $8,562 The adjusted cash balance per bank agreed with the cash balance per books at October 31 The November bank statement showed the following PHAROAH COMPANY Bank Statement November 30, 2021 Cheques and Other Debits Date Number Amount Deposits Amount Oct 31 $11,769 Nov 3 2470 $920 $1,540 12,389 4 2471 845 11,544 5 2475 1,641 1,216 11,119 6 2474 1,060 10,059 7 2476 1,930 990 9,119 10 2477 600 8,519 13 2,575 11,094 14 2479 1,750 9,344 18 2480 1,330 1,526 9,540 21 3,844 13,384 25 NSF 270 2,567 15,681 26 2481 695 14,986 27 1,650 16,636 28 2486 900 EFT 2,490 18,226 28 2483 617 1,186 18,795 30 LN 2,260 16,535 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 Pharoah Company had not previously accrued 2 The NSF for $270 is a $255 cheque from a customer, Pendray Holdings, in payment of its account, plus a $15 processing fee The companys 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 $260 interest and $2,000 principal 4 At November 30, the cash balance per books was $11,987 The bank did not make any errors The cash records per books for November follow Two errors were made by Pharoah Company Cash Payments Date Number Amount Date Number Amount Nov 3 2475 $1,641 Nov 18 2482 $624 3 2476 1,390 20 2483 617 4 2477 600 21 2484 809 6 2478 523 24 2485 953 8 2479 1,750 26 2486 900 10 2480 1,330 28 2487 1,270 14 2481 695 Total $13,102 Cash Receipts Date Amount Nov 3 $1,216 7 990 12 2,575 17 1,526 20 3,488 24 2,567 27 1,650 28 1,186 30 1,329 Total $16,527 1 Prepare a bank reconciliation at November 30 2 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 The correction of any errors in the recording of cash receipts should be made to Accounts Receivable )

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The bank portion of the bank reconciliation for Pharoah Company at October 31, 2021, was as follows: PHAROAH COMPANY Bank Reconciliation October 31, 2021 Cash

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

PHAROAH COMPANY Bank Reconciliation October 31, 2021
Cash balance per bank		$11,769
Add: Deposits in transit		1,540
		13,309
Less: Outstanding cheques
#2451	$1,400
#2470	920
#2471	845
#2472	522
#2474	1,060	4,747
Adjusted cash balance per bank		$8,562

The adjusted cash balance per bank agreed with the cash balance per books at October 31. The November bank statement showed the following:

PHAROAH COMPANY Bank Statement November 30, 2021
	Cheques and Other Debits
Date	Number	Amount	Deposits	Amount
Oct. 31				$11,769
Nov. 3	2470	$920	$1,540	12,389
4	2471	845		11,544
5	2475	1,641	1,216	11,119
6	2474	1,060		10,059
7	2476	1,930	990	9,119
10	2477	600		8,519
13			2,575	11,094
14	2479	1,750		9,344
18	2480	1,330	1,526	9,540
21			3,844	13,384
25	NSF	270	2,567	15,681
26	2481	695		14,986
27			1,650	16,636
28	2486	900	EFT 2,490	18,226
28	2483	617	1,186	18,795
30	LN	2,260		16,535

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 Pharoah Company had not previously accrued.
2.		The NSF for $270 is a $255 cheque from a customer, Pendray Holdings, in payment of its account, plus a $15 processing fee. The companys 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 $260 interest and $2,000 principal.
4.		At November 30, the cash balance per books was $11,987. The bank did not make any errors.

The cash records per books for November follow. Two errors were made by Pharoah Company.

Cash Payments
Date	Number	Amount	Date	Number	Amount
Nov. 3	2475	$1,641	Nov. 18	2482	$624
3	2476	1,390	20	2483	617
4	2477	600	21	2484	809
6	2478	523	24	2485	953
8	2479	1,750	26	2486	900
10	2480	1,330	28	2487	1,270
14	2481	695	Total		$13,102

Cash Receipts
Date		Amount
Nov. 3		$1,216
7		990
12		2,575
17		1,526
20		3,488
24		2,567
27		1,650
28		1,186
30		1,329
Total		$16,527

1. Prepare a bank reconciliation at November 30

2. 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. The correction of any errors in the recording of cash receipts should be made to Accounts Receivable.)