The bank portion of the bank reconciliation for Swifty Company at November 30, 2022, was as follows. Swifty COMPANY Bank Reconciliation (Partial) November 30, 2022 Cash balance per bank Add: Deposits in transit $14,487.90 2,530.20 17,018.10 Less: Outstanding checks Check Number Check Amount 3451 $2,261.40 3470 721.40 3471 845.40 3472 1,427.40 3474 1,052.40 6,308.00 Adjusted cash balance per bank $10,710.10 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. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 $2,261.40 12-1 $2,530.20 12-2 3471 845.40 12-4 1,212.40 12-7 3472 1,427.40 12-8 2,366.40 12-4 3475 1,641.40 12-16 2,673.40 12-8 3476 1,301.40 12-21 2,946.40 12-10 3477 2,131.40 12-26 2,568.40 12-15 3479 3,081.40 12-29 2,837.40 12-27 3480 601.40 12-30 1,026.40 12-30 3482 476.90 Total $18,161.00 12-15 3479 3.081.40 12-29 2,837.40 12-27 3480 601.40 12-30 1,026.40 12-30 3482 476.90 Total $18,161.00 12-29 3483 1,141.40 12-31 3485 530.80 Total $15,440.30 The cash records per books for December showed the following. Cash Payments Journal Cash Receipts Journal Date Number Amount Date Number Amount Date Amount 12-1 3475 $1,641.40 12-20 3482 $476.90 12-3 $1,212.40 12-2 3476 1,301.40 12-22 3483 1,141.40 12-7 2,366.40 12-2 3477 2,131.40 12-23 3484 798.40 12-15 2,673.40 12-4 3478 622.70 12-24 3485 350.80 12-20 2,954.00 12-8 3479 3,081.40 12-30 3486 890.90 12-25 2,568.40 12-10 3480 601.40 Total $13,846.90 12-28 2,837.40 12-17 3481 808.80 12-30 1,026.40 12-31 1,691.80 Total $17,330.20 The bank statement contained two memoranda: 1. 2. A credit of $5,970.00 for the collection of a $5,800.00 note for Swifty Company plus interest of $210.00 and less a collection fee of $40.00. Swifty Company has not previously recorded any interest on the note. A debit of $94.00 for an NSF check written by L. Rees, a customer. At December 31, the check had not been redeposited in the bank. At December 31, the cash balance per books was $14,193.40, and the cash balance per the bank statement was $23,084.60. The bank did not make any errors, but two errors were made by Swifty Company. (a) Your answer is correct. Cash balance per bank statement Add- Deposits in transit Less Outstanding checks No. 3484 No. 3470 No.3478 No. 34811 No. 3474 No. 3486 Adjusted cash balance per bank Cash balance per books SWIFTY COMPANY Bank Reconciliation December 31, 2022 57 798.40 721.40 i 622.70 1 808.80 1 1,052.40 890.90 i 23,084.60 1.691.80 24,776.40 4,894.60 19.88180 $ 14.193.40 (b) Cash balance per books Add- Note collected by bank Less NSF check Error in recording check Error in deposit Adjusted cash balance per books eTextbook and Media List of Accounts 94 i 180 7.60 A 14.193.40 5.970 20,163.40 281.60 i 19.881.80 Attempts: 3 of 10 used Prepare the adjusting entries based on the reconciliation. (Hint: 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, eg. 52.75.) 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, eg. 52.75.) No. Account Titles and Explanation Dec. 31 Dec. 31 (To record collection of note receivable by bank) Dec. 31 (To record NSF check) Dec. 31 (To correct error in recording check) (To correct error in deposit) Debit Credit