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The Cash account of Gate City Security Systems reported a balance of $2,450 at December 31, 2024. There were outstanding checks totaling $600 and a
The Cash account of Gate City Security Systems reported a balance of $2,450 at December 31, 2024. There were outstanding checks totaling $600 and a December 31 deposit in transit of $100. The bank statement which came from Tri Cities Bank, listed the December 31 balance of $3,590. Included in the bank balance was a collection of $650 on account from Cathy Kar, a Gate City customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Gate City earned on its bank balance. Prepare Gate City's bank reconciliation at December 31. Gate City Security Systems Bank Reconciliation December 31, 2024 Bank: Balance, December 31, 2024 ADD LESS Adjusted bank balance, December 31, 2024 Book Balance, December 31, 2024 ADO LESS Adjusted book balance, December 31, 2024
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