The bank portion of the bank reconciliation for the Louda Company at October 31, 2017 as as follows:

The adjusted cash balance per bank agreed with the cash balance per books at October 31st.

The November bank statement showed the following checks and deposits.

The cash records per books for November show the following information:

The bank statement contained two bank memoranda:

1. A credit of $2,105.00 for the collection of a $2,000 note for Louda Company plus interest of $120 and less a collection fee of $15.

Louda Company accrued interest to the maturity of the note.

2. A debit for the printing of additional company checks, $50.00.

At November 30 the cash balance per books was $11,133.90 and the cash balance per the bank statement was $17,614.60.

The bank did not make any errors but two errors were made by Louda Company.

Instructions:

(a) Prepare the bank reconciliation at November 30, 2017

(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.)

LOUDA COMPANY Bank Reconciliation October 31,2017 Cash balance per bank Add: Deposits in transit $12,367.90 1,530.20 13,898.10 Less:Outstanding checks Check Number Check Amount 2451S1,260.40 720.10 844.50 426.80 1,050.00 2470 2471 2472 2474 4,301.80 Adjusted cash balance per bank 9,596.30